Goldman Sachs BDC (NYSE:GSBD) Lowered to “Sell” at StockNews.com

Goldman Sachs BDC (NYSE:GSBD) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

GSBD has been the subject of several other reports. Truist Financial decreased 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. Wells Fargo & Company raised Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $14.00 to $12.00 in a report on Monday, August 12th.

Goldman Sachs BDC Price Performance

Shares of GSBD traded down $0.13 during trading hours on Tuesday, hitting $14.26. The stock had a trading volume of 508,187 shares, compared to its average volume of 619,819. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.43 and a beta of 1.07. Goldman Sachs BDC has a 52 week low of $13.39 and a 52 week high of $15.94. The company’s fifty day moving average is $14.48 and its two-hundred day moving average is $15.03. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.22 and a quick ratio of 1.22.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. Goldman Sachs BDC had a return on equity of 15.79% and a net margin of 19.84%. The firm had revenue of $108.62 million during the quarter, compared to analysts’ expectations of $112.07 million. On average, analysts anticipate that Goldman Sachs BDC will post 2.19 EPS for the current year.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of hedge funds have recently bought and sold shares of GSBD. Van ECK Associates Corp raised its position in Goldman Sachs BDC by 20.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,451,439 shares of the financial services provider’s stock valued at $36,845,000 after buying an additional 413,745 shares during the last quarter. Marshall Wace LLP bought a new position in Goldman Sachs BDC in the 2nd quarter valued at $18,533,000. Shikiar Asset Management Inc. grew its position in Goldman Sachs BDC by 16.1% during the second quarter. Shikiar Asset Management Inc. now owns 554,290 shares of the financial services provider’s stock worth $8,331,000 after buying an additional 76,715 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Goldman Sachs BDC by 17.9% during the second quarter. Envestnet Asset Management Inc. now owns 523,071 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 79,315 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Goldman Sachs BDC by 8.9% in the 2nd quarter. Cetera Investment Advisers now owns 422,010 shares of the financial services provider’s stock worth $6,343,000 after buying an additional 34,631 shares in the last quarter. Institutional investors own 28.72% of the company’s stock.

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.