Goldman Sachs BDC (NYSE:GSBD) Hits New 1-Year Low – Time to Sell?

Goldman Sachs BDC, Inc. (NYSE:GSBD) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.76 and last traded at $12.76, with a volume of 649965 shares trading hands. The stock had previously closed at $12.96.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GSBD. StockNews.com upgraded Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Truist Financial lowered their target price on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Wells Fargo & Company upgraded shares of Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $14.00 to $12.00 in a research report on Monday, August 12th.

Goldman Sachs BDC Stock Performance

The company’s 50-day moving average is $13.74 and its two-hundred day moving average is $14.60. 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 market cap of $1.49 billion, a P/E ratio of 18.51 and a beta of 1.07.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Thursday, November 7th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $110.41 million during the quarter, compared to the consensus estimate of $112.43 million. Goldman Sachs BDC had a return on equity of 15.67% and a net margin of 17.01%. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities analysts predict that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, December 31st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 14.16%. The ex-dividend date of this dividend is Tuesday, December 31st. Goldman Sachs BDC’s dividend payout ratio is 257.15%.

Hedge Funds Weigh In On Goldman Sachs BDC

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Goldman Sachs BDC by 10.4% in the third quarter. Van ECK Associates Corp now owns 2,706,897 shares of the financial services provider’s stock worth $36,408,000 after buying an additional 255,458 shares during the period. Marshall Wace LLP purchased a new position in Goldman Sachs BDC during the second quarter valued at $18,533,000. Shikiar Asset Management Inc. lifted its holdings in shares of Goldman Sachs BDC by 16.1% in the 2nd quarter. Shikiar Asset Management Inc. now owns 554,290 shares of the financial services provider’s stock valued at $8,331,000 after acquiring an additional 76,715 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Goldman Sachs BDC by 17.9% during the second quarter. Envestnet Asset Management Inc. now owns 523,071 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 79,315 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Goldman Sachs BDC by 8.9% in the 2nd quarter. Cetera Investment Advisers now owns 422,010 shares of the financial services provider’s stock valued at $6,343,000 after purchasing an additional 34,631 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.