Goldman Sachs BDC (NYSE:GSBD) Rating Lowered to Sell at StockNews.com

Goldman Sachs BDC (NYSE:GSBD) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company upgraded Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $14.00 to $12.00 in a report on Monday, August 12th. Truist Financial lowered their price objective on Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, August 12th.

Goldman Sachs BDC Trading Up 0.2 %

Shares of NYSE GSBD opened at $14.30 on Tuesday. The business has a 50 day simple moving average of $14.46 and a 200 day simple moving average of $15.02. Goldman Sachs BDC has a 52 week low of $13.39 and a 52 week high of $15.94. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.45 and a beta of 1.07. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.22 and a current ratio of 1.22.

Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The company had revenue of $108.62 million during the quarter, compared to the consensus estimate of $112.07 million. Goldman Sachs BDC had a net margin of 19.84% and a return on equity of 15.79%. On average, research analysts predict that Goldman Sachs BDC will post 2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Goldman Sachs BDC

Several large investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in Goldman Sachs BDC during the 2nd quarter valued at $18,533,000. Van ECK Associates Corp raised its position in shares of Goldman Sachs BDC by 20.3% during the second quarter. Van ECK Associates Corp now owns 2,451,439 shares of the financial services provider’s stock valued at $36,845,000 after buying an additional 413,745 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of Goldman Sachs BDC in the first quarter valued at about $2,786,000. Cetera Investment Advisers grew its position in Goldman Sachs BDC by 45.8% during the first quarter. Cetera Investment Advisers now owns 387,379 shares of the financial services provider’s stock worth $5,803,000 after buying an additional 121,765 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in Goldman Sachs BDC by 762.7% during the first quarter. Cetera Advisors LLC now owns 136,015 shares of the financial services provider’s stock worth $2,038,000 after buying an additional 120,249 shares in the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.

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.