Goldman Sachs BDC (NYSE:GSBD) Sets New 1-Year Low – Here’s Why

Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) hit a new 52-week low during trading on Tuesday . The stock traded as low as $12.76 and last traded at $12.76, with a volume of 649965 shares. The stock had previously closed at $12.96.

Analyst Upgrades and Downgrades

GSBD has been the topic of several analyst reports. StockNews.com raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Truist Financial cut their price target on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Wells Fargo & Company upgraded Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $14.00 to $12.00 in a research note on Monday, August 12th.

Goldman Sachs BDC Stock Down 0.6 %

The stock has a market capitalization of $1.50 billion, a P/E ratio of 18.23 and a beta of 1.07. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $13.66 and its 200-day moving average is $14.56.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, November 7th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Goldman Sachs BDC had a net margin of 17.01% and a return on equity of 15.72%. The company had revenue of $110.41 million during the quarter, compared to analysts’ expectations of $112.43 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts predict that Goldman Sachs BDC, Inc. will post 2.18 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Tuesday, December 31st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.11%. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 257.14%.

Institutional Trading of Goldman Sachs BDC

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in Goldman Sachs BDC in the 2nd quarter valued at $18,533,000. Van ECK Associates Corp raised its holdings in Goldman Sachs BDC by 20.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,451,439 shares of the financial services provider’s stock worth $36,845,000 after purchasing an additional 413,745 shares during the last quarter. International Assets Investment Management LLC lifted its position in Goldman Sachs BDC by 2,121.3% during the 3rd quarter. International Assets Investment Management LLC now owns 329,200 shares of the financial services provider’s stock valued at $45,300,000 after purchasing an additional 314,380 shares during the period. Cetera Investment Advisers boosted its stake in shares of Goldman Sachs BDC by 45.8% in the 1st quarter. Cetera Investment Advisers now owns 387,379 shares of the financial services provider’s stock valued at $5,803,000 after purchasing an additional 121,765 shares during the last quarter. Finally, Cetera Advisors LLC raised its stake in shares of Goldman Sachs BDC by 762.7% during the first quarter. Cetera Advisors LLC now owns 136,015 shares of the financial services provider’s stock worth $2,038,000 after buying an additional 120,249 shares during the last quarter. 28.72% of the stock is owned by institutional investors.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.