Advisors Capital Management LLC Sells 350,303 Shares of Goldman Sachs BDC, Inc. $GSBD

Key Points

• Advisors Capital Management LLC has cut its stake in Goldman Sachs BDC by 45.2%, now owning 424,732 shares valued at approximately $4.94 million after selling 350,303 shares in the 1st quarter.
• Goldman Sachs BDC recently received a "strong sell" rating from Zacks Research, while the stock has a consensus rating of "Sell" and an average price target of $10.00.
• The company has announced a quarterly dividend of $0.03 per share, which represents a dividend yield of 1.1%, despite having a dividend payout ratio of 101.59%.

Advisors Capital Management LLC reduced its stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 45.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,732 shares of the financial services provider's stock after selling 350,303 shares during the quarter. Advisors Capital Management LLC owned about 0.36% of Goldman Sachs BDC worth $4,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nicholas Hoffman & Company LLC. grew its position in Goldman Sachs BDC by 5.1% during the first quarter. Nicholas Hoffman & Company LLC. now owns 19,291 shares of the financial services provider's stock worth $224,000 after buying an additional 938 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Goldman Sachs BDC by 6.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,835 shares of the financial services provider's stock worth $231,000 after buying an additional 1,147 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Goldman Sachs BDC by 10.9% in the 4th quarter. Captrust Financial Advisors now owns 11,861 shares of the financial services provider's stock valued at $144,000 after purchasing an additional 1,165 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Goldman Sachs BDC by 7.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 26,316 shares of the financial services provider's stock worth $306,000 after acquiring an additional 1,842 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its position in Goldman Sachs BDC by 16.5% during the 4th quarter. Centaurus Financial Inc. now owns 13,603 shares of the financial services provider's stock worth $165,000 after acquiring an additional 1,925 shares in the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell" and an average price target of $10.00.

Insider Buying and Selling at Goldman Sachs BDC

In related news, CEO Vivek Bantwal bought 22,000 shares of Goldman Sachs BDC stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average price of $11.36 per share, for a total transaction of $249,920.00. Following the completion of the purchase, the chief executive officer owned 22,000 shares in the company, valued at approximately $249,920. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Goldman Sachs BDC Trading Up 0.6%

GSBD traded up $0.07 during trading on Wednesday, reaching $11.38. The company had a trading volume of 124,646 shares, compared to its average volume of 752,363. Goldman Sachs BDC, Inc. has a 12-month low of $9.51 and a 12-month high of $14.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 9.03 and a beta of 0.75. The firm's 50-day simple moving average is $11.45 and its 200 day simple moving average is $11.36.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. The business had revenue of $90.97 million for the quarter, compared to analysts' expectations of $94.55 million. Equities research analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. Goldman Sachs BDC's dividend payout ratio is currently 101.59%.

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.