Goldman Sachs BDC (NYSE:GSBD) Stock Rating Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Goldman Sachs BDC from “hold” to “strong-buy,” but overall analyst sentiment remains cautious, with a consensus rating of “reduce” and an average price target of $8.75.
• GSBD shares opened at $9.09 and are down 4.2%, trading between a 52-week range of $8.35 to $10.38. The company has a market capitalization of approximately $1.02 billion and a debt-to-equity ratio of 1.36.
• Goldman Sachs BDC reported quarterly earnings of $0.37 per share, beating estimates of $0.31, while revenue came in at $35.08 million versus expectations of $78.89 million; institutional investors own 28.72% of the stock.

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

Other analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Goldman Sachs BDC from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial upped their price target on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Bank of America reiterated an "underperform" rating and issued a $8.50 price target (down from $9.00) on shares of Goldman Sachs BDC in a research note on Thursday, July 9th. Weiss Ratings reissued a "hold (c-)" rating on shares of Goldman Sachs BDC in a report on Friday, August 28th. Finally, The Goldman Sachs Group lowered Goldman Sachs BDC from a "neutral" rating to a "reduce" rating and set a $8.50 price objective on the stock. in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $8.75.

Goldman Sachs BDC Stock Down 4.2%

GSBD stock opened at $9.09 on Tuesday. Goldman Sachs BDC has a 52 week low of $8.35 and a 52 week high of $10.38. The business has a 50-day simple moving average of $9.57 and a 200 day simple moving average of $9.33. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.02 billion, a PE ratio of 17.48 and a beta of 0.60.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm had revenue of $35.08 million during the quarter, compared to analysts' expectations of $78.89 million. Goldman Sachs BDC had a return on equity of 11.04% and a net margin of 17.19%. Sell-side analysts anticipate that Goldman Sachs BDC will post 1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Goldman Sachs BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SHP Wealth Management bought a new position in Goldman Sachs BDC during the 4th quarter worth $63,000. Integrated Wealth Concepts LLC bought a new stake in shares of Goldman Sachs BDC in the 2nd quarter valued at about $89,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Goldman Sachs BDC in the 1st quarter valued at about $114,000. Kavar Capital Partners Group LLC bought a new position in shares of Goldman Sachs BDC during the first quarter worth about $119,000. Finally, Sovran Advisors LLC raised its holdings in 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 purchasing an additional 1,790 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc NYSE: GSBD is a business development company that invests in privately held, middle-market businesses. The company seeks to generate income and provide long-term capital appreciation by making investments primarily in debt securities and, to a lesser extent, equity interests.

Goldman Sachs BDC's portfolio typically includes senior secured loans, unitranche loans, second-lien loans and subordinated debt, along with equity investments such as warrants or other ownership interests.

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