Cornerstone Advisory LLC Has $233,000 Stock Position in Goldman Sachs BDC, Inc. (NYSE:GSBD)

Key Points

• Cornerstone Advisory LLC reduced its stake in Goldman Sachs BDC, Inc. by 61.9%, now holding 20,000 shares valued at $233,000 after selling 32,520 shares in the first quarter.
• Wells Fargo & Company lowered its price target for Goldman Sachs BDC from $12.00 to $10.00 and assigned an "underweight" rating in a recent report.
• The company announced a dividend of $0.05 per share, reflecting a yield of 17.09%, with a high dividend payout ratio of 284.44%.

Cornerstone Advisory LLC trimmed its stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 61.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the financial services provider's stock after selling 32,520 shares during the quarter. Cornerstone Advisory LLC's holdings in Goldman Sachs BDC were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Goldman Sachs BDC in the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC raised its holdings 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 worth $37,000 after purchasing an additional 2,086 shares in the last quarter. Creative Financial Designs Inc. ADV bought a new stake in shares of Goldman Sachs BDC in the 1st quarter worth approximately $46,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Goldman Sachs BDC by 81.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 3,858 shares of the financial services provider's stock worth $47,000 after purchasing an additional 1,728 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Goldman Sachs BDC in the 4th quarter worth approximately $105,000. 28.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their price target on shares of Goldman Sachs BDC from $12.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, April 28th.

Goldman Sachs BDC Trading Down 2.6%

Shares of GSBD stock traded down $0.31 during trading hours on Monday, reaching $11.65. 784,588 shares of the stock traded hands, compared to its average volume of 693,988. Goldman Sachs BDC, Inc. has a 1-year low of $9.51 and a 1-year high of $15.17. The business has a fifty day moving average price of $11.52 and a 200 day moving average price of $11.72. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $1.37 billion, a PE ratio of 25.89 and a beta of 0.72.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.02). Goldman Sachs BDC had a net margin of 12.38% and a return on equity of 15.05%. The firm had revenue of $96.94 million for the quarter, compared to analyst estimates of $101.12 million. On average, equities research analysts forecast that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were given a dividend of $0.05 per share. This represents a yield of 17.09%. The ex-dividend date was Friday, May 30th. Goldman Sachs BDC's payout ratio is presently 284.44%.

Goldman Sachs BDC 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.