Goldman Sachs BDC (NYSE:GSBD) Sets New 52-Week Low – Here’s Why

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $12.76 and last traded at $12.76, with a volume of 649965 shares trading hands. The stock had previously closed at $12.96.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GSBD. Wells Fargo & Company upgraded Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $14.00 to $12.00 in a research report on Monday, August 12th. Truist Financial reduced their price objective on Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th.

Goldman Sachs BDC Stock Down 1.9 %

The business’s 50-day moving average is $13.74 and its two-hundred day moving average is $14.60. 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 firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 18.51 and a beta of 1.07.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, November 7th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $110.41 million during the quarter, compared to the consensus estimate of $112.43 million. Goldman Sachs BDC had a return on equity of 15.67% and a net margin of 17.01%. During the same quarter last year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Tuesday, December 31st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.80 annualized dividend and a dividend yield of 14.16%. Goldman Sachs BDC’s payout ratio is currently 257.15%.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of institutional investors and hedge funds have recently made changes to their positions in GSBD. Marshall Wace LLP acquired a new position in shares of Goldman Sachs BDC in the 2nd quarter valued at $18,533,000. Van ECK Associates Corp boosted its position in shares of 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 period. International Assets Investment Management LLC lifted its stake in shares of Goldman Sachs BDC by 2,121.3% in the 3rd quarter. International Assets Investment Management LLC now owns 329,200 shares of the financial services provider’s stock worth $45,300,000 after acquiring an additional 314,380 shares during the period. Cetera Investment Advisers boosted its stake in shares of Goldman Sachs BDC by 45.8% during the 1st quarter. Cetera Investment Advisers now owns 387,379 shares of the financial services provider’s stock worth $5,803,000 after acquiring an additional 121,765 shares in the last quarter. Finally, Cetera Advisors LLC lifted its holdings 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 in the last quarter. Hedge funds and other institutional investors 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.