Goldman Sachs BDC Inc. (NYSE:GSBD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday. The firm currently has a $25.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 8.70% from the stock’s previous close.
According to Zacks, “Goldman Sachs BDC, Inc. is a specialty finance company. The Company invests primarily in telecommunication services, electronic equipment, instruments and components and real estate management and development industries. Goldman Sachs BDC, Inc. is based in NEW YORK, United States. “
A number of other research firms also recently issued reports on GSBD. National Securities reiterated a “buy” rating and set a $23.00 price target on shares of Goldman Sachs BDC in a research report on Monday, November 7th. Goldman Sachs Group Inc. downgraded shares of Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 price target for the company. in a research report on Thursday, November 3rd. Bank of America Corp. downgraded shares of Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 price target for the company. in a research report on Thursday, November 3rd. Finally, Citigroup Inc. lifted their price target on shares of Goldman Sachs BDC from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, October 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Goldman Sachs BDC currently has a consensus rating of “Hold” and an average target price of $22.08.
Goldman Sachs BDC (NYSE:GSBD) traded up 2.13% on Tuesday, reaching $23.00. The company had a trading volume of 76,336 shares. The stock has a 50 day moving average price of $21.87 and a 200 day moving average price of $20.87. The stock has a market capitalization of $835.38 million, a PE ratio of 30.87 and a beta of 0.90. Goldman Sachs BDC has a 52-week low of $16.66 and a 52-week high of $23.00.
Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The firm earned $33.95 million during the quarter, compared to the consensus estimate of $26.37 million. Goldman Sachs BDC had a net margin of 28.66% and a return on equity of 11.88%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Analysts expect that Goldman Sachs BDC will post $2.10 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.83%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 181.82%.
In other news, Director Jaime Ardila bought 4,683 shares of the stock in a transaction on Monday, November 7th. The stock was purchased at an average cost of $21.52 per share, with a total value of $100,778.16. Following the purchase, the director now owns 4,683 shares of the company’s stock, valued at $100,778.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.35% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in Goldman Sachs BDC during the third quarter valued at approximately $112,000. PineBridge Investments L.P. boosted its stake in Goldman Sachs BDC by 133.9% in the second quarter. PineBridge Investments L.P. now owns 9,334 shares of the company’s stock valued at $187,000 after buying an additional 5,344 shares during the last quarter. BB&T Securities LLC purchased a new stake in Goldman Sachs BDC during the third quarter valued at approximately $202,000. Starfire Investment Advisers Inc. purchased a new stake in Goldman Sachs BDC during the second quarter valued at approximately $248,000. Finally, National Asset Management Inc. purchased a new stake in Goldman Sachs BDC during the second quarter valued at approximately $263,000. 31.77% of the stock is owned by hedge funds and other institutional investors.
Goldman Sachs BDC Company Profile
Goldman Sachs BDC, Inc, formerly Goldman Sachs Liberty Harbor Capital, LLC, is a closed-end management investment company. The Company is focused on lending to middle-market companies. Its investment objective is to generate current income and capital appreciation through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.