Cidel Asset Management Inc. Buys New Position in Goldman Sachs BDC, Inc. $GSBD

Cidel Asset Management Inc. purchased a new position in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 60,200 shares of the financial services provider’s stock, valued at approximately $571,000.

Several other large investors have also bought and sold shares of GSBD. UBS Group AG boosted its holdings in Goldman Sachs BDC by 18.2% during the 4th quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider’s stock worth $14,915,000 after acquiring an additional 247,163 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Goldman Sachs BDC by 40.1% in the fourth quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider’s stock valued at $13,835,000 after purchasing an additional 426,859 shares during the last quarter. Ares Management LLC lifted its position in shares of Goldman Sachs BDC by 77.0% during the fourth quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider’s stock valued at $13,113,000 after purchasing an additional 614,637 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Goldman Sachs BDC by 412.8% during the second quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider’s stock worth $12,419,000 after purchasing an additional 888,608 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Goldman Sachs BDC by 1.2% during the first quarter. Bank of America Corp DE now owns 997,570 shares of the financial services provider’s stock worth $8,858,000 after purchasing an additional 11,915 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors.

Goldman Sachs BDC Stock Down 0.6%

GSBD opened at $9.62 on Thursday. Goldman Sachs BDC, Inc. has a twelve month low of $8.35 and a twelve month high of $11.47. The company’s 50-day moving average price is $9.37 and its two-hundred day moving average price is $9.28. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 18.51 and a beta of 0.60. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.36.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $35.08 million during the quarter, compared to analyst estimates of $78.89 million. Goldman Sachs BDC had a net margin of 17.19% and a return on equity of 11.04%. As a group, equities analysts expect that Goldman Sachs BDC, Inc. will post 1.29 earnings per share for the current year.

Goldman Sachs BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 13.3%. Goldman Sachs BDC’s payout ratio is presently 246.15%.

Analyst Ratings Changes

Several research firms have commented on GSBD. Truist Financial increased their price objective on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Wall Street Zen raised Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Friday, August 28th. Bank of America reiterated an “underperform” rating and set a $8.50 price target (down from $9.00) on shares of Goldman Sachs BDC in a report on Thursday, July 9th. Finally, Zacks Research raised Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.75.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company’s primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management’s Private Credit Group, leveraging the firm’s global research capabilities and risk management infrastructure.