Goldman Sachs BDC (GSBD) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a strong sell rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

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. “

GSBD has been the subject of several other research reports. Citigroup cut their target price on Goldman Sachs BDC from $23.00 to $21.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. National Securities cut their target price on Goldman Sachs BDC from $23.00 to $22.00 and set a buy rating for the company in a research report on Monday, March 4th. TheStreet upgraded Goldman Sachs BDC from a c+ rating to a b- rating in a research report on Thursday, February 21st. Raymond James cut their target price on Goldman Sachs BDC from $24.00 to $23.00 and set a strong-buy rating for the company in a research report on Monday, March 4th. Finally, Wells Fargo & Co reiterated a buy rating on shares of Goldman Sachs BDC in a research report on Wednesday, January 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $22.00.



Shares of GSBD opened at $20.25 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.76 and a quick ratio of 0.76. Goldman Sachs BDC has a 52 week low of $17.73 and a 52 week high of $22.75. The stock has a market capitalization of $835.14 million, a price-to-earnings ratio of 9.83, a P/E/G ratio of 10.84 and a beta of 0.93.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Thursday, February 28th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Goldman Sachs BDC had a return on equity of 11.97% and a net margin of 25.34%. The firm had revenue of $35.97 million during the quarter, compared to analysts’ expectations of $37.23 million. As a group, research analysts anticipate that Goldman Sachs BDC will post 1.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.89%. The ex-dividend date is Thursday, June 27th. Goldman Sachs BDC’s dividend payout ratio is currently 87.38%.

In related news, insider Salvatore Lentini sold 30,809 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $20.38, for a total transaction of $627,887.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GSBD. Manchester Financial Inc. lifted its stake in shares of Goldman Sachs BDC by 2.0% in the 1st quarter. Manchester Financial Inc. now owns 651,119 shares of the financial services provider’s stock valued at $13,374,000 after purchasing an additional 13,018 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Goldman Sachs BDC by 12.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 321,983 shares of the financial services provider’s stock valued at $5,918,000 after purchasing an additional 34,661 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of Goldman Sachs BDC by 1.2% in the 1st quarter. Confluence Investment Management LLC now owns 281,616 shares of the financial services provider’s stock valued at $5,785,000 after purchasing an additional 3,262 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Goldman Sachs BDC by 3.4% in the 1st quarter. BlackRock Inc. now owns 189,044 shares of the financial services provider’s stock valued at $3,883,000 after purchasing an additional 6,265 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware lifted its stake in shares of Goldman Sachs BDC by 3.3% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 185,639 shares of the financial services provider’s stock valued at $3,412,000 after purchasing an additional 5,975 shares during the last quarter. 34.74% 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.

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