Invesco Ltd. Sells 217,549 Shares of Goldman Sachs BDC, Inc. $GSBD

Key Points

• Invesco Ltd. reduced its ownership in Goldman Sachs BDC, Inc. (GSBD) by 19.9% during the first quarter, now holding 877,940 shares valued at approximately $10.21 million.
• Research analysts have downgraded GSBD, with Zacks Research changing its rating to "strong sell" and Wells Fargo lowering the target price to $10.00.
• Goldman Sachs BDC reported a missed earnings per share of $0.38 against an expectation of $0.40 during the last quarter.

Invesco Ltd. decreased its holdings in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 877,940 shares of the financial services provider's stock after selling 217,549 shares during the period. Invesco Ltd. owned about 0.75% of Goldman Sachs BDC worth $10,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Townsquare Capital LLC lifted its stake in Goldman Sachs BDC by 12.4% during the first quarter. Townsquare Capital LLC now owns 59,291 shares of the financial services provider's stock worth $690,000 after purchasing an additional 6,536 shares during the period. Founders Financial Alliance LLC lifted its stake in Goldman Sachs BDC by 9.6% during the first quarter. Founders Financial Alliance LLC now owns 41,104 shares of the financial services provider's stock worth $478,000 after purchasing an additional 3,609 shares during the period. AlphaCore Capital LLC bought a new position in Goldman Sachs BDC during the first quarter worth about $143,000. Nicholas Hoffman & Company LLC. lifted its stake 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 purchasing an additional 938 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in Goldman Sachs BDC during the first quarter worth about $245,000. Institutional investors own 28.72% of the company's stock.

Analyst Upgrades and Downgrades

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

Goldman Sachs BDC Trading Up 0.2%

GSBD traded up $0.03 during trading on Friday, reaching $11.45. 448,192 shares of the company's stock were exchanged, compared to its average volume of 595,284. The company's fifty day moving average price is $11.48 and its 200-day moving average price is $11.50. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.08 and a beta of 0.75. Goldman Sachs BDC, Inc. has a fifty-two week low of $9.51 and a fifty-two week 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.

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

Goldman Sachs BDC Cuts Dividend

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