Goldman Sachs BDC, Inc. $GSBD Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Goldman Sachs BDC, Inc. by 53.4%, owning 287,978 shares valued at approximately $3.35 million as of the recent quarter.
• The company reported earnings of $0.38 per share for the last quarter, falling short of analysts' expectations, with revenue of $90.97 million against projections of $94.55 million.
• Goldman Sachs BDC announced a quarterly dividend of $0.32 per share, reflecting a dividend yield of 11.4%, with a current payout ratio of over 101%.

HighTower Advisors LLC lifted its position in Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 53.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,978 shares of the financial services provider's stock after purchasing an additional 100,283 shares during the quarter. HighTower Advisors LLC owned about 0.25% of Goldman Sachs BDC worth $3,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Nicholas Hoffman & Company LLC. grew its holdings in shares of Goldman Sachs BDC by 5.1% in the first quarter. Nicholas Hoffman & Company LLC. now owns 19,291 shares of the financial services provider's stock valued at $224,000 after purchasing an additional 938 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Goldman Sachs BDC by 6.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,835 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 1,147 shares during the period. Captrust Financial Advisors grew its holdings in shares of Goldman Sachs BDC by 10.9% in the fourth 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 during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Goldman Sachs BDC by 7.5% in the first quarter. Oppenheimer & Co. Inc. now owns 26,316 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 1,842 shares during the period. Finally, Centaurus Financial Inc. grew its holdings in shares of Goldman Sachs BDC by 16.5% in the fourth quarter. Centaurus Financial Inc. now owns 13,603 shares of the financial services provider's stock valued at $165,000 after purchasing an additional 1,925 shares during the period. Hedge funds and other institutional investors own 28.72% of the company's stock.

Analyst Ratings Changes

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

Goldman Sachs BDC Trading Down 0.0%

GSBD stock traded down $0.01 during mid-day trading on Wednesday, hitting $11.39. 411,953 shares of the company were exchanged, compared to its average volume of 605,427. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $1.30 billion, a P/E ratio of 9.04 and a beta of 0.75. The business has a fifty day simple moving average of $11.49 and a 200-day simple moving average of $11.53. Goldman Sachs BDC, Inc. has a 12-month low of $9.51 and a 12-month high of $14.54.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last announced 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). The company had revenue of $90.97 million for the quarter, compared to analysts' expectations of $94.55 million. Goldman Sachs BDC had a return on equity of 13.95% and a net margin of 36.17%. On average, equities research analysts predict that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.03 per share. This represents a yield of 1,743.0%. The ex-dividend date of this dividend is Friday, August 29th. Goldman Sachs BDC's dividend payout ratio (DPR) is 101.59%.

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.