Goldman Sachs BDC (NYSE:GSBD) Price Target Cut to $9.00 by Analysts at Truist Financial

Goldman Sachs BDC (NYSE:GSBD) had its target price dropped by investment analysts at Truist Financial from $10.00 to $9.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial‘s price target suggests a potential upside of 5.45% from the stock’s current price.

Several other research firms have also issued reports on GSBD. Zacks Research upgraded shares of Goldman Sachs BDC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. Wall Street Zen upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Goldman Sachs BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Goldman Sachs BDC presently has a consensus rating of “Reduce” and an average target price of $8.50.

Goldman Sachs BDC Stock Down 0.5%

Goldman Sachs BDC stock traded down $0.04 during midday trading on Tuesday, reaching $8.54. The stock had a trading volume of 145,045 shares, compared to its average volume of 1,161,403. The company has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $9.24. Goldman Sachs BDC has a 12 month low of $8.35 and a 12 month high of $10.38. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $960.78 million, a P/E ratio of 32.79 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $74.99 million during the quarter, compared to analyst estimates of $80.13 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 will post 1.30 EPS for the current fiscal year.

Institutional Investors Weigh In On Goldman Sachs BDC

Several large investors have recently modified their holdings of GSBD. Integrated Wealth Concepts LLC purchased a new position in Goldman Sachs BDC in the second quarter valued at approximately $89,000. Prosperity Planning Inc. bought a new position in Goldman Sachs BDC during the third quarter valued at $134,000. Sovran Advisors LLC grew its holdings in Goldman Sachs BDC by 14.4% during the first quarter. Sovran Advisors LLC now owns 14,245 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 1,790 shares during the period. Bridgewealth Advisory Group LLC purchased a new stake in Goldman Sachs BDC in the third quarter worth $147,000. Finally, Janney Montgomery Scott LLC increased its position in Goldman Sachs BDC by 17.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,000 shares of the financial services provider’s stock worth $151,000 after buying an additional 2,545 shares during the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc is a business development company that provides financing to middle-market companies, primarily in the United States. It seeks to support businesses that may need capital for growth, acquisitions, refinancing, or other corporate purposes.

The company invests mainly in debt securities, including senior secured, unitranche, second-lien, and subordinated loans. It may also make equity and equity-related investments, often alongside its lending activities.

Goldman Sachs BDC is externally managed by Goldman Sachs Asset Management, part of Goldman Sachs.