Goldman Sachs BDC (NYSE:GSBD) Cut to "Hold" at Zacks Research

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday, Zacks reports.

A number of other equities analysts have also recently commented on the stock. Wall Street Zen raised shares of Goldman Sachs BDC from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial dropped their price objective 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. Finally, Weiss Ratings cut shares of Goldman Sachs BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, November 4th. Three equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Goldman Sachs BDC has an average rating of "Strong Sell" and an average target price of $8.50.

Goldman Sachs BDC Stock Performance

Shares of NYSE GSBD opened at $8.51 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. Goldman Sachs BDC has a 12 month low of $8.35 and a 12 month high of $10.38. The stock has a 50 day moving average of $9.14 and a 200-day moving average of $9.24. The company has a market capitalization of $945.14 million, a P/E ratio of 32.74 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last posted its earnings results on Thursday, November 5th. The financial services provider reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). Goldman Sachs BDC had a return on equity of 10.56% and a net margin of 9.21%. The business had revenue of $74.99 million for the quarter, compared to analyst estimates of $80.13 million. As a group, equities research analysts predict that Goldman Sachs BDC will post 1.25 EPS for the current year.

Institutional Investors Weigh In On Goldman Sachs BDC

Institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Goldman Sachs BDC in the 2nd quarter valued at approximately $89,000. Sovran Advisors LLC boosted its position in shares of Goldman Sachs BDC by 14.4% during the 1st quarter. Sovran Advisors LLC now owns 14,245 shares of the financial services provider's stock worth $140,000 after acquiring an additional 1,790 shares in the last quarter. Prosperity Planning Inc. acquired a new stake in shares of Goldman Sachs BDC during the 3rd quarter worth approximately $134,000. Bridgewealth Advisory Group LLC bought a new position in Goldman Sachs BDC in the third quarter valued at approximately $147,000. Finally, Janney Montgomery Scott LLC increased its stake in Goldman Sachs BDC by 17.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,000 shares of the financial services provider's stock valued at $151,000 after acquiring an additional 2,545 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc. is a business development company that provides financing to middle-market companies, primarily in the United States. It seeks to support businesses that may need capital for growth, acquisitions, refinancing, or other corporate purposes. The company invests mainly in debt securities, including senior secured, unitranche, second-lien, and subordinated loans. It may also make equity and equity-related investments, often alongside its lending activities. Goldman Sachs BDC is externally managed by Goldman Sachs Asset Management, part of Goldman Sachs.

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