Goldman Sachs BDC (NYSE:GSBD) Shares Break Below Fifty Day Moving Average – Here’s Why

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $9.54 and traded as low as $9.37. Goldman Sachs BDC shares last traded at $9.4470, with a volume of 1,062,875 shares changing hands.

Analysts Set New Price Targets

GSBD has been the topic of a number of recent research reports. The Goldman Sachs Group lowered Goldman Sachs BDC from a “neutral” rating to a “reduce” rating and set a $8.50 price objective on the stock. in a research report on Thursday, July 9th. Bank of America reaffirmed an “underperform” rating and issued a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a report on Thursday, July 9th. Zacks Research upgraded shares of Goldman Sachs BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Goldman Sachs BDC in a research report on Friday, August 28th. Finally, Truist Financial lifted their price objective on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $8.75.

Goldman Sachs BDC Stock Down 4.2%

The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 17.48 and a beta of 0.60. The firm has a 50-day moving average price of $9.56 and a two-hundred day moving average price of $9.33.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $35.08 million during the quarter, compared to the consensus estimate of $78.89 million. Goldman Sachs BDC had a return on equity of 11.04% and a net margin of 17.19%. On average, sell-side analysts forecast 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. Investors of record on Wednesday, September 30th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.1%. Goldman Sachs BDC’s dividend payout ratio is 246.15%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Closed End Fund Advisors Inc. acquired a new stake in Goldman Sachs BDC during the 4th quarter worth $3,858,000. Saxon Interests Inc. acquired a new position in Goldman Sachs BDC in the fourth quarter valued at $1,131,000. Compass Financial Management LLC purchased a new stake in shares of Goldman Sachs BDC in the second quarter valued at about $522,000. Cidel Asset Management Inc. acquired a new stake in shares of Goldman Sachs BDC during the second quarter worth about $571,000. Finally, One William Street Capital Management L.P. purchased a new position in shares of Goldman Sachs BDC during the fourth quarter worth about $742,000. Institutional investors and hedge funds own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc (NYSE: GSBD) is a business development company that invests in privately held, middle-market businesses. The company seeks to generate income and provide long-term capital appreciation by making investments primarily in debt securities and, to a lesser extent, equity interests.

Goldman Sachs BDC’s portfolio typically includes senior secured loans, unitranche loans, second-lien loans and subordinated debt, along with equity investments such as warrants or other ownership interests.