Goldman Sachs BDC, Inc. $GSBD Shares Sold by Cascade Investment Group Inc.

Key Points

• Cascade Investment Group Inc. significantly reduced its stake in Goldman Sachs BDC, slashing holdings by 83.6% in the first quarter, leaving them with just 11,350 shares valued at approximately $132,000.
• Goldman Sachs BDC reported missed earnings estimates for the last quarter, with an EPS of $0.38 versus the expected $0.40 and revenues of $90.97 million compared to projections of $94.55 million.
• The company announced a dividend of $0.03 per share, representing a yield of 1,743.0%, but has a high payout ratio of 101.59%.

Cascade Investment Group Inc. decreased its holdings in Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 83.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,350 shares of the financial services provider's stock after selling 57,675 shares during the period. Cascade Investment Group Inc.'s holdings in Goldman Sachs BDC were worth $132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Goldman Sachs BDC during the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its holdings in shares of Goldman Sachs BDC by 211.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the financial services provider's stock worth $37,000 after buying an additional 2,086 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of Goldman Sachs BDC during the 1st quarter worth approximately $46,000. Mallini Complete Financial Planning LLC acquired a new stake in shares of Goldman Sachs BDC during the 1st quarter worth approximately $119,000. Finally, AXA S.A. acquired a new stake in Goldman Sachs BDC in the 4th quarter valued at approximately $125,000. Institutional investors and hedge funds own 28.72% of the company's stock.

Goldman Sachs BDC Trading Up 0.2%

Goldman Sachs BDC stock traded up $0.03 during trading on Monday, hitting $11.45. The company had a trading volume of 448,192 shares, compared to its average volume of 590,427. Goldman Sachs BDC, Inc. has a 1-year low of $9.51 and a 1-year high of $14.54. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.19. The company's 50 day simple moving average is $11.48 and its 200-day simple moving average is $11.49. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 9.08 and a beta of 0.75.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.38 EPS 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 during the quarter, compared to analysts' expectations of $94.55 million. As a group, analysts expect that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 29th. Goldman Sachs BDC's dividend payout ratio (DPR) is currently 101.59%.

Analyst Upgrades and Downgrades

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

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.