Goldman Sachs BDC (NYSE:GSBD) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a buy rating in a research note released on Friday morning.

Separately, Wells Fargo & Company lifted their target price on Goldman Sachs BDC from $14.50 to $15.00 and gave the company an equal weight rating in a research report on Monday, January 29th.

Goldman Sachs BDC Stock Performance

Shares of Goldman Sachs BDC stock opened at $15.68 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 8.71 and a beta of 1.13. The stock’s 50-day moving average is $15.21 and its 200-day moving average is $14.88. Goldman Sachs BDC has a one year low of $12.75 and a one year high of $15.72. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 1.13.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $115.40 million during the quarter, compared to the consensus estimate of $117.09 million. Goldman Sachs BDC had a net margin of 43.06% and a return on equity of 15.05%. Equities analysts predict that Goldman Sachs BDC will post 2.18 earnings per share for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.48%. The ex-dividend date of this dividend was Wednesday, March 27th. Goldman Sachs BDC’s dividend payout ratio is currently 100.00%.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its position in Goldman Sachs BDC by 10.6% during the fourth quarter. Van ECK Associates Corp now owns 1,888,203 shares of the financial services provider’s stock worth $27,662,000 after buying an additional 180,880 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Goldman Sachs BDC by 2.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,138,467 shares of the financial services provider’s stock worth $17,054,000 after buying an additional 30,886 shares during the last quarter. Invesco Ltd. increased its position in Goldman Sachs BDC by 3.3% during the third quarter. Invesco Ltd. now owns 862,743 shares of the financial services provider’s stock worth $12,562,000 after buying an additional 27,451 shares during the last quarter. Advisors Capital Management LLC increased its position in Goldman Sachs BDC by 2.6% during the third quarter. Advisors Capital Management LLC now owns 651,264 shares of the financial services provider’s stock worth $9,482,000 after buying an additional 16,512 shares during the last quarter. Finally, Shikiar Asset Management Inc. grew its position in shares of Goldman Sachs BDC by 30.3% in the first quarter. Shikiar Asset Management Inc. now owns 477,575 shares of the financial services provider’s stock valued at $7,154,000 after purchasing an additional 110,975 shares during the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.

About Goldman Sachs BDC

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.