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

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $14.00 to $12.00 in a research report on Monday, August 12th. Finally, Truist Financial cut their price objective on shares of 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 Stock Down 0.3 %

The firm has a 50 day simple moving average of $13.96 and a two-hundred day simple moving average of $14.79. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 7.03 and a beta of 1.07.

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 return on equity of 15.79% and a net margin of 19.84%. The firm had revenue of $108.62 million for the quarter, compared to analyst estimates of $112.07 million. As a group, sell-side analysts expect that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, September 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.39%. The ex-dividend date of this dividend is Monday, September 30th. Goldman Sachs BDC’s dividend payout ratio is currently 93.75%.

Institutional Investors Weigh In On Goldman Sachs BDC

Hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of Goldman Sachs BDC during the second quarter worth about $18,533,000. Van ECK Associates Corp grew its holdings 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 worth $36,845,000 after buying an additional 413,745 shares in the last quarter. International Assets Investment Management LLC grew its stake in Goldman Sachs BDC by 2,121.3% in the third 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 in the last quarter. Cetera Investment Advisers grew its stake 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 valued at $5,803,000 after purchasing an additional 121,765 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in 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. 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.