StockNews.com Upgrades Goldman Sachs BDC (NYSE:GSBD) to “Hold”

Goldman Sachs BDC (NYSE:GSBD) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

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

Goldman Sachs BDC Trading Down 0.7 %

NYSE:GSBD opened at $13.62 on Tuesday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 7.09 and a beta of 1.07. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.22. The company has a fifty day moving average of $14.12 and a 200 day moving average of $14.90. Goldman Sachs BDC has a 52 week low of $13.39 and a 52 week high of $15.94.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm 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 year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in Goldman Sachs BDC during the 2nd quarter valued at about $18,533,000. Van ECK Associates Corp raised its stake in 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 Goldman Sachs BDC in the first quarter worth $2,786,000. Cetera Investment Advisers boosted its holdings in Goldman Sachs BDC by 45.8% in the first 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 grew 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 worth $2,038,000 after acquiring an additional 120,249 shares during 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.