Ares Management LLC Makes New $5.37 Million Investment in Goldman Sachs BDC, Inc. $GSBD

Key Points

• Ares Management LLC has invested approximately $5.37 million in Goldman Sachs BDC, purchasing 461,984 shares, making it the company's 25th largest holding.
• Goldman Sachs BDC recently reported earnings of $0.38 per share, missing analyst expectations by $0.02, and its revenues for the quarter also fell short of projections.
• The company has announced a dividend cut with a quarterly payment of $0.03 per share, leading to a dividend yield of only 1.0% and a high payout ratio of 101.59%.

Ares Management LLC bought a new stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 461,984 shares of the financial services provider's stock, valued at approximately $5,373,000. Goldman Sachs BDC makes up 0.3% of Ares Management LLC's holdings, making the stock its 25th biggest position. Ares Management LLC owned 0.39% of Goldman Sachs BDC at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP bought a new position in Goldman Sachs BDC during the fourth quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its position in shares of Goldman Sachs BDC by 211.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 2,086 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of Goldman Sachs BDC in the 1st quarter valued at $46,000. Mallini Complete Financial Planning LLC acquired a new position in shares of Goldman Sachs BDC in the 1st quarter valued at $119,000. Finally, Aspiriant LLC acquired a new position in shares of Goldman Sachs BDC in the 1st quarter valued at $122,000. Institutional investors own 28.72% of the company's stock.

Wall Street Analysts Forecast Growth

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

Goldman Sachs BDC Trading Down 0.5%

Shares of NYSE:GSBD traded down $0.06 during midday trading on Friday, reaching $11.44. The company had a trading volume of 593,720 shares, compared to its average volume of 540,782. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. Goldman Sachs BDC, Inc. has a 1-year low of $9.51 and a 1-year high of $14.54. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 9.08 and a beta of 0.75. The company has a fifty day simple moving average of $11.47 and a two-hundred day simple moving average of $11.43.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Goldman Sachs BDC had a return on equity of 13.95% and a net margin of 36.17%.The business had revenue of $90.97 million for the quarter, compared to analyst estimates of $94.55 million. Research analysts predict 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 will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, August 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. Goldman Sachs BDC's dividend payout ratio (DPR) is presently 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.