Key Points
- Goldman Sachs BDC director Timothy Leach bought 2,004 shares on June 10 at an average price of $9.04, a transaction worth $18,116.16. After the purchase, he held 19,675 shares, increasing his position by 11.34%.
- GSBD shares were little changed, opening at $9.10 and trading near the lower end of their 52-week range of $8.65 to $12.03. The company has a market cap of about $1.02 billion and recently reported weaker-than-expected quarterly results, with EPS of $0.22 versus estimates of $0.29.
- The company declared a quarterly dividend of $0.32 per share, payable July 28 to shareholders of record on June 30. That implies an annualized yield of 14.1%, though the payout ratio is elevated at 196.92%.
Goldman Sachs BDC, Inc. (NYSE:GSBD - Get Free Report) Director Timothy Leach purchased 2,004 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was bought at an average price of $9.04 per share, for a total transaction of $18,116.16. Following the purchase, the director owned 19,675 shares in the company, valued at $177,862. The trade was a 11.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Goldman Sachs BDC Stock Down 0.1%
Shares of GSBD opened at $9.10 on Friday. Goldman Sachs BDC, Inc. has a 52 week low of $8.65 and a 52 week high of $12.03. The firm has a market cap of $1.02 billion, a P/E ratio of 13.99 and a beta of 0.58. The firm's 50-day simple moving average is $9.23 and its 200 day simple moving average is $9.35. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11.
Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%.The business had revenue of $10.35 million for the quarter, compared to analyst estimates of $83.78 million. On average, analysts forecast that Goldman Sachs BDC, Inc. will post 1.15 earnings per share for the current year.
Goldman Sachs BDC Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date is Tuesday, June 30th. Goldman Sachs BDC's dividend payout ratio is presently 196.92%.
Institutional Trading of Goldman Sachs BDC
A number of institutional investors and hedge funds have recently made changes to their positions in GSBD. Balyasny Asset Management L.P. lifted its holdings in shares of Goldman Sachs BDC by 412.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider's stock worth $12,419,000 after acquiring an additional 888,608 shares during the period. Ares Management LLC lifted its holdings in shares of Goldman Sachs BDC by 77.0% during the 4th quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider's stock worth $13,113,000 after acquiring an additional 614,637 shares during the period. American Financial Group Inc. bought a new stake in shares of Goldman Sachs BDC during the 4th quarter worth approximately $4,701,000. Invesco Ltd. lifted its holdings in shares of Goldman Sachs BDC by 40.1% during the 4th quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider's stock worth $13,835,000 after acquiring an additional 426,859 shares during the period. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of Goldman Sachs BDC during the 4th quarter worth approximately $3,858,000. Institutional investors own 28.72% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on GSBD shares. Zacks Research lowered shares of Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Truist Financial decreased their target price on shares of Goldman Sachs BDC from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings restated a "hold (c-)" rating on shares of Goldman Sachs BDC in a research report on Tuesday, June 2nd. Wells Fargo & Company decreased their target price on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an "underweight" rating on the stock in a research report on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Goldman Sachs BDC from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Goldman Sachs BDC currently has an average rating of "Reduce" and a consensus target price of $9.17.
Read Our Latest Report on GSBD
Goldman Sachs BDC Company Profile
(
Get Free Report)
Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company's primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.
The fund is advised by affiliates of Goldman Sachs Asset Management's Private Credit Group, leveraging the firm's global research capabilities and risk management infrastructure.
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