Goldman Sachs BDC (NYSE:GSBD) Reaches New 12-Month Low – Time to Sell?

Goldman Sachs BDC, Inc. (NYSE:GSBD) hit a new 52-week low on Thursday . The stock traded as low as $13.32 and last traded at $13.34, with a volume of 173117 shares changing hands. The stock had previously closed at $13.49.

Analyst Ratings Changes

Several research analysts have commented on GSBD shares. Truist Financial lowered their price objective on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, August 12th. StockNews.com upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, 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 report on Monday, August 12th.

Goldman Sachs BDC Price Performance

The business has a fifty day simple moving average of $13.91 and a 200-day simple moving average of $14.73. The stock has a market capitalization of $1.56 billion, a P/E ratio of 15.87 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 quarterly 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. 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%. Sell-side analysts expect that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Monday, September 30th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 13.48%. Goldman Sachs BDC’s dividend payout ratio is 211.76%.

Institutional Investors Weigh In On Goldman Sachs BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norden Group LLC lifted its holdings in shares of Goldman Sachs BDC by 1,000.5% in the first quarter. Norden Group LLC now owns 119,304 shares of the financial services provider’s stock valued at $1,787,000 after purchasing an additional 108,463 shares in the last quarter. Shikiar Asset Management Inc. lifted its position in shares of Goldman Sachs BDC by 16.1% during the second quarter. Shikiar Asset Management Inc. now owns 554,290 shares of the financial services provider’s stock valued at $8,331,000 after purchasing an additional 76,715 shares in the last quarter. Marshall Wace LLP purchased a new position in Goldman Sachs BDC during the second quarter worth about $18,533,000. Naviter Wealth LLC grew its position in Goldman Sachs BDC by 55.3% in the 2nd quarter. Naviter Wealth LLC now owns 131,241 shares of the financial services provider’s stock worth $2,032,000 after purchasing an additional 46,760 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in Goldman Sachs BDC by 762.7% in the 1st quarter. Cetera Advisors LLC now owns 136,015 shares of the financial services provider’s stock valued at $2,038,000 after buying an additional 120,249 shares during the last quarter. 28.72% of the stock is 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.