Goldman Sachs BDC (NYSE:GSBD) Sets New 1-Year Low – What’s Next?

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.38 and last traded at $13.40, with a volume of 288743 shares traded. The stock had previously closed at $13.48.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GSBD. Wells Fargo & Company raised shares of Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $14.00 to $12.00 in a research report on Monday, August 12th. StockNews.com upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Truist Financial decreased their target price 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.

Goldman Sachs BDC Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $1.51 billion, a P/E ratio of 7.05 and a beta of 1.07. The business has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $14.77.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Thursday, August 8th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. Goldman Sachs BDC had a net margin of 19.84% and a return on equity of 15.79%. The firm had revenue of $108.62 million during the quarter, compared to analyst estimates of $112.07 million. Analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, September 30th will be issued a $0.45 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.80 dividend on an annualized basis and a yield of 13.36%. Goldman Sachs BDC’s dividend payout ratio is currently 93.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in Goldman Sachs BDC in the second quarter worth $18,533,000. Van ECK Associates Corp lifted 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 purchasing an additional 413,745 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Goldman Sachs BDC by 2,121.3% during the 3rd quarter. International Assets Investment Management LLC now owns 329,200 shares of the financial services provider’s stock valued at $45,300,000 after purchasing an additional 314,380 shares during the period. Cetera Investment Advisers grew its position in Goldman Sachs BDC by 45.8% in the 1st quarter. Cetera Investment Advisers now owns 387,379 shares of the financial services provider’s stock worth $5,803,000 after purchasing an additional 121,765 shares during the last quarter. Finally, Cetera Advisors LLC increased its stake in shares of Goldman Sachs BDC by 762.7% in the first quarter. Cetera Advisors LLC now owns 136,015 shares of the financial services provider’s stock valued at $2,038,000 after purchasing an additional 120,249 shares during the period. 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.