Goldman Sachs BDC (NYSE:GSBD) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a sell rating in a report released on Monday 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. “

Shares of Goldman Sachs BDC stock opened at $18.95 on Monday. The stock’s 50-day simple moving average is $18.98 and its 200-day simple moving average is $19.40. Goldman Sachs BDC has a 52 week low of $14.89 and a 52 week high of $20.65. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 6.58 and a beta of 1.47. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.97.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings data on Thursday, August 5th. The financial services provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Goldman Sachs BDC had a return on equity of 12.24% and a net margin of 85.41%. The business had revenue of $83.90 million for the quarter, compared to the consensus estimate of $83.61 million. On average, equities analysts expect that Goldman Sachs BDC will post 1.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 27th. Investors of record on Thursday, September 30th will be given a $0.45 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.50%. Goldman Sachs BDC’s dividend payout ratio is currently 88.24%.

Several large investors have recently bought and sold shares of GSBD. Envestnet Asset Management Inc. lifted its position in shares of Goldman Sachs BDC by 72.3% in the first quarter. Envestnet Asset Management Inc. now owns 31,547 shares of the financial services provider’s stock worth $610,000 after buying an additional 13,240 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Goldman Sachs BDC in the first quarter worth about $335,000. Rockefeller Capital Management L.P. lifted its position in shares of Goldman Sachs BDC by 182.7% in the first quarter. Rockefeller Capital Management L.P. now owns 5,966 shares of the financial services provider’s stock worth $115,000 after buying an additional 3,856 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Goldman Sachs BDC by 152.2% in the first quarter. Acadian Asset Management LLC now owns 28,444 shares of the financial services provider’s stock worth $550,000 after buying an additional 17,165 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Goldman Sachs BDC by 99.0% in the first quarter. Mercer Global Advisors Inc. ADV now owns 34,682 shares of the financial services provider’s stock worth $670,000 after buying an additional 17,255 shares in the last quarter. Institutional investors own 22.77% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc invests in middle market companies located in the US. The fund targets companies operating in the fields software, health technology information technology, commercial services and textiles with an investment size of $25 to $75 million and an EBITDA of $5 to $75 million. It provides financing in the form of senior secured debt, unitranche debt, junior secured, mezzanine debt and equity for acquisitions, refinancing, growth, LBOs, dividend recapitalization and restructuring transactions.

Featured Article: Dual Listing

Get a free copy of the Zacks research report on Goldman Sachs BDC (GSBD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Goldman Sachs BDC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs BDC and related companies with MarketBeat.com's FREE daily email newsletter.