Wells Fargo & Company Has Lowered Expectations for Goldman Sachs BDC (NYSE:GSBD) Stock Price

Goldman Sachs BDC (NYSE:GSBD) had its price objective decreased by investment analysts at Wells Fargo & Company from $12.00 to $10.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 8.42% from the company’s current price.

Separately, StockNews.com upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Sunday, March 23rd.

Goldman Sachs BDC Price Performance

GSBD remained flat at $10.92 during midday trading on Monday. 221,606 shares of the company’s stock traded hands, compared to its average volume of 796,287. The firm has a 50 day moving average of $11.68 and a 200-day moving average of $12.44. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.19. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 15.60 and a beta of 0.87. Goldman Sachs BDC has a 1-year low of $9.51 and a 1-year high of $15.94.

Institutional Trading of Goldman Sachs BDC

Several large investors have recently added to or reduced their stakes in the business. Sage Rhino Capital LLC grew its position in shares of Goldman Sachs BDC by 23.9% during the 4th quarter. Sage Rhino Capital LLC now owns 252,335 shares of the financial services provider’s stock valued at $3,053,000 after acquiring an additional 48,639 shares during the period. JPMorgan Chase & Co. increased its position in Goldman Sachs BDC by 221.7% in the third quarter. JPMorgan Chase & Co. now owns 222,475 shares of the financial services provider’s stock worth $3,061,000 after buying an additional 153,316 shares in the last quarter. Magnus Financial Group LLC bought a new position in shares of Goldman Sachs BDC in the fourth quarter worth about $246,000. Stiles Financial Services Inc purchased a new position in shares of Goldman Sachs BDC during the 4th quarter valued at about $383,000. Finally, Quadrant Private Wealth Management LLC grew its stake in shares of Goldman Sachs BDC by 13.5% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 182,279 shares of the financial services provider’s stock valued at $2,288,000 after acquiring an additional 21,620 shares during the period. 28.72% of the stock is currently owned by institutional investors.

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.