North Ground Capital Has $3 Million Position in Goldman Sachs BDC, Inc. $GSBD

Key Points

• North Ground Capital significantly increased its stake in Goldman Sachs BDC, Inc. by 473.8% during the first quarter, now holding 280,000 shares valued at approximately $2.99 million.
• Goldman Sachs BDC has been assigned a consensus rating of "Sell" by equity analysts, with a target price reduced from $12.00 to $10.00.
• The company recently declared a dividend of $0.03 per share, reflecting a yield of 1,743.0%, but its dividend payout ratio currently stands at 101.59%.

North Ground Capital lifted its position in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 473.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,000 shares of the financial services provider's stock after acquiring an additional 231,205 shares during the quarter. Goldman Sachs BDC makes up approximately 2.9% of North Ground Capital's portfolio, making the stock its 10th biggest position. North Ground Capital owned 0.24% of Goldman Sachs BDC worth $2,996,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. boosted its holdings in shares of Goldman Sachs BDC by 1.9% during the 1st quarter. Raymond James Financial Inc. now owns 683,271 shares of the financial services provider's stock valued at $7,946,000 after acquiring an additional 12,701 shares in the last quarter. Muzinich & Co. Inc. boosted its holdings in shares of Goldman Sachs BDC by 9.8% during the 1st quarter. Muzinich & Co. Inc. now owns 434,147 shares of the financial services provider's stock valued at $5,049,000 after acquiring an additional 38,845 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Goldman Sachs BDC by 7.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 418,070 shares of the financial services provider's stock worth $4,862,000 after buying an additional 30,172 shares during the period. Meridian Wealth Management LLC lifted its holdings in Goldman Sachs BDC by 12.5% during the 1st quarter. Meridian Wealth Management LLC now owns 313,291 shares of the financial services provider's stock worth $3,644,000 after buying an additional 34,833 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Goldman Sachs BDC by 53.4% during the 1st quarter. HighTower Advisors LLC now owns 287,978 shares of the financial services provider's stock worth $3,349,000 after buying an additional 100,283 shares during the period. Institutional investors and hedge funds own 28.72% of the company's stock.

Analyst Upgrades and Downgrades

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

Goldman Sachs BDC Trading Up 0.2%

Shares of NYSE:GSBD traded up $0.03 during midday trading on Friday, reaching $11.45. The company's stock had a trading volume of 448,192 shares, compared to its average volume of 595,284. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.08 and a beta of 0.75. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a 50 day moving average price of $11.48 and a two-hundred day moving average price of $11.50. 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 quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The business had revenue of $90.97 million during the quarter, compared to analyst estimates of $94.55 million. Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. As a group, analysts forecast 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 given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. Goldman Sachs BDC's payout ratio is presently 101.59%.

About Goldman Sachs BDC

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.