Zacks Investment Research cut shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a strong sell rating in a research report report published on Wednesday morning.
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. “
Several other research analysts also recently weighed in on the stock. National Securities restated a neutral rating and issued a $22.00 target price on shares of Goldman Sachs BDC in a research note on Monday, November 6th. BidaskClub downgraded shares of Goldman Sachs BDC from a hold rating to a sell rating in a research note on Saturday, October 28th. Finally, TheStreet upgraded shares of Goldman Sachs BDC from a c rating to a b- rating in a research note on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $22.60.
Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, November 2nd. The financial services provider reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $34.40 million during the quarter, compared to the consensus estimate of $33.56 million. Goldman Sachs BDC had a net margin of 32.19% and a return on equity of 11.34%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. sell-side analysts anticipate that Goldman Sachs BDC will post 2.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.80 annualized dividend and a yield of 8.05%. Goldman Sachs BDC’s dividend payout ratio is presently -818.18%.
In related news, Director Jaime Ardila purchased 8,108 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were purchased at an average cost of $21.84 per share, with a total value of $177,078.72. Following the completion of the acquisition, the director now directly owns 12,791 shares of the company’s stock, valued at approximately $279,355.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GSBD. Muzinich & Co. Inc. raised its holdings in Goldman Sachs BDC by 10.1% in the second quarter. Muzinich & Co. Inc. now owns 1,437,363 shares of the financial services provider’s stock valued at $32,369,000 after acquiring an additional 131,366 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Goldman Sachs BDC by 100.4% during the third quarter. Private Advisor Group LLC now owns 222,748 shares of the financial services provider’s stock worth $5,007,000 after purchasing an additional 111,573 shares during the period. CIBC World Markets Inc. raised its holdings in shares of Goldman Sachs BDC by 44.0% during the second quarter. CIBC World Markets Inc. now owns 200,782 shares of the financial services provider’s stock worth $4,522,000 after purchasing an additional 61,312 shares during the period. Van ECK Associates Corp raised its holdings in shares of Goldman Sachs BDC by 23.6% during the second quarter. Van ECK Associates Corp now owns 281,760 shares of the financial services provider’s stock worth $6,345,000 after purchasing an additional 53,871 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Goldman Sachs BDC by 19.0% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 271,985 shares of the financial services provider’s stock worth $6,125,000 after purchasing an additional 43,365 shares during the period. 36.49% of the stock is currently owned by hedge funds and other institutional investors.
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About Goldman Sachs BDC
Goldman Sachs BDC, Inc is a closed-end management investment company. The Company is a specialty finance company, which is focused on lending to middle-market companies. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, including first lien, unitranche, including last out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
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