Confluence Investment Management LLC Acquires 4,259 Shares of Goldman Sachs BDC, Inc. (NYSE:GSBD)

Confluence Investment Management LLC raised its stake in Goldman Sachs BDC, Inc. (NYSE:GSBD) by 2.2% in the third quarter, Holdings Channel reports. The fund owned 194,500 shares of the financial services provider’s stock after purchasing an additional 4,259 shares during the quarter. Confluence Investment Management LLC’s holdings in Goldman Sachs BDC were worth $2,676,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC boosted its holdings in shares of Goldman Sachs BDC by 118.7% during the 1st quarter. Norden Group LLC now owns 23,706 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 12,865 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Goldman Sachs BDC by 11.3% during the first quarter. Private Advisor Group LLC now owns 37,596 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 3,827 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Goldman Sachs BDC by 271.8% during the first quarter. SG Americas Securities LLC now owns 80,379 shares of the financial services provider’s stock worth $1,204,000 after purchasing an additional 58,762 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Goldman Sachs BDC by 15.3% in the first quarter. ProShare Advisors LLC now owns 15,390 shares of the financial services provider’s stock valued at $231,000 after buying an additional 2,047 shares during the period. Finally, MAS Advisors LLC bought a new position in Goldman Sachs BDC in the 1st quarter valued at approximately $228,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GSBD has been the subject of several recent research reports. StockNews.com upgraded shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $12.00 in a research report on Monday, August 12th. Finally, Truist Financial reduced their price target on Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, August 12th.

Goldman Sachs BDC Price Performance

GSBD stock opened at $12.99 on Friday. 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’s fifty day simple moving average is $13.76 and its 200 day simple moving average is $14.63. Goldman Sachs BDC, Inc. has a 12-month low of $12.76 and a 12-month high of $15.94. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 15.28 and a beta of 1.07.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results 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 company had revenue of $108.62 million for the quarter, compared to analyst estimates of $112.07 million. Goldman Sachs BDC had a return on equity of 15.79% and a net margin of 19.84%. On average, analysts expect that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

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.