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

Goldman Sachs BDC, Inc. (NYSE:GSBD) shares hit a new 52-week low on Monday . The stock traded as low as $12.67 and last traded at $12.74, with a volume of 733544 shares changing hands. The stock had previously closed at $12.77.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $14.00 to $12.00 in a research report on Monday, August 12th. Truist Financial cut their price target on shares of Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, StockNews.com raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th.

Goldman Sachs BDC Price Performance

The company has a fifty day moving average price of $13.64 and a 200 day moving average price of $14.52. The company has a market cap of $1.50 billion, a PE ratio of 18.24 and a beta of 1.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.26 and a quick ratio of 1.26.

Goldman Sachs BDC (NYSE:GSBD) last posted its quarterly earnings data on Thursday, November 7th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Goldman Sachs BDC had a net margin of 17.01% and a return on equity of 15.72%. The firm had revenue of $110.41 million for the quarter, compared to analysts’ expectations of $112.43 million. During the same quarter last year, the company posted $0.64 EPS. As a group, analysts anticipate that Goldman Sachs BDC, Inc. will post 2.18 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Tuesday, December 31st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.10%. The ex-dividend date of this dividend is Tuesday, December 31st. Goldman Sachs BDC’s payout ratio is currently 257.15%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in shares of Goldman Sachs BDC by 4,607.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,024 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,981 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Goldman Sachs BDC by 149.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,275 shares during the period. WFA Asset Management Corp bought a new position in shares of Goldman Sachs BDC during the third quarter valued at about $33,000. Rothschild Investment LLC purchased a new position in shares of Goldman Sachs BDC in the second quarter worth about $113,000. Finally, Zions Bancorporation N.A. bought a new stake in shares of Goldman Sachs BDC in the 2nd quarter valued at about $128,000. 28.72% of the stock is owned by hedge funds and other 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.