Goldman Sachs BDC, Inc. $GSBD Shares Sold by Invesco Ltd.

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. cut its holdings in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 19.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other large investors also recently modified their holdings of the business. Quarry LP acquired a new position in Goldman Sachs BDC in the fourth quarter worth about $33,000. Tower Research Capital LLC TRC grew its stake in Goldman Sachs BDC by 211.1% in the fourth 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 acquired a new position in Goldman Sachs BDC in the first quarter worth about $46,000. Mallini Complete Financial Planning LLC acquired a new position in Goldman Sachs BDC in the first quarter worth about $119,000. Finally, Aspiriant LLC acquired a new position in Goldman Sachs BDC in the first quarter worth about $122,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research downgraded 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 data from MarketBeat.com, the stock currently has a consensus rating of "Sell" and a consensus target price of $10.00.

Goldman Sachs BDC Stock Performance

GSBD stock traded up $0.06 during midday trading on Friday, reaching $11.45. The company had a trading volume of 288,717 shares, compared to its average volume of 768,072. The stock has a 50 day moving average price of $11.48 and a 200 day moving average price of $11.52. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.08 and a beta of 0.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.19. Goldman Sachs BDC, Inc. has a fifty-two week low of $9.51 and a fifty-two week 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 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $90.97 million for the quarter, compared to the consensus estimate of $94.55 million. Analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Cuts Dividend

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