Goldman Sachs BDC, Inc. $GSBD Stake Reduced by Shikiar Asset Management Inc.

Key Points

• Shikiar Asset Management Inc. reduced its stake in Goldman Sachs BDC, Inc. by 23.7%, holding 216,500 shares after selling 67,290 shares in the second quarter.
• Goldman Sachs BDC has seen a decline in ratings, with Zacks Research downgrading it from a "hold" to a "strong sell", while the company has a consensus price target of $10.00.
• CEO Vivek Bantwal purchased 22,000 shares at $11.36 each, increasing his position, while the stock's recent performance showed a decline of 2.3% trading at $9.54.

Shikiar Asset Management Inc. trimmed its stake in Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 23.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 216,500 shares of the financial services provider's stock after selling 67,290 shares during the quarter. Shikiar Asset Management Inc. owned approximately 0.18% of Goldman Sachs BDC worth $2,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stiles Financial Services Inc increased its holdings in shares of Goldman Sachs BDC by 32.0% in the 2nd quarter. Stiles Financial Services Inc now owns 111,007 shares of the financial services provider's stock worth $1,249,000 after acquiring an additional 26,924 shares during the period. MAS Advisors LLC boosted its stake in Goldman Sachs BDC by 4.8% during the 2nd quarter. MAS Advisors LLC now owns 26,274 shares of the financial services provider's stock valued at $296,000 after purchasing an additional 1,204 shares during the period. Kraematon Investment Advisors Inc. grew its position in Goldman Sachs BDC by 1.6% in the 2nd quarter. Kraematon Investment Advisors Inc. now owns 61,331 shares of the financial services provider's stock worth $690,000 after purchasing an additional 969 shares during the last quarter. Catalina Capital Group LLC acquired a new stake in shares of Goldman Sachs BDC in the second quarter valued at approximately $140,000. Finally, PFG Investments LLC raised its holdings in shares of Goldman Sachs BDC by 15.3% during the second quarter. PFG Investments LLC now owns 85,205 shares of the financial services provider's stock valued at $959,000 after buying an additional 11,322 shares during the last quarter. Institutional investors and hedge funds own 28.72% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Zacks Research lowered Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Goldman Sachs BDC in a research report on Wednesday. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Sell" and a consensus price target of $10.00.

Insider Buying and Selling at Goldman Sachs BDC

In other Goldman Sachs BDC news, CEO Vivek Bantwal acquired 22,000 shares of the stock in a transaction dated Friday, September 12th. The shares were bought at an average price of $11.36 per share, with a total value of $249,920.00. Following the purchase, the chief executive officer directly owned 22,000 shares of the company's stock, valued at approximately $249,920. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.12% of the company's stock.

Goldman Sachs BDC Stock Down 2.3%

Shares of GSBD stock opened at $9.54 on Friday. Goldman Sachs BDC, Inc. has a 1 year low of $9.48 and a 1 year high of $13.80. 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 business's fifty day moving average is $11.04 and its 200-day moving average is $11.16. The stock has a market cap of $1.09 billion, a PE ratio of 7.57 and a beta of 0.73.

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 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 firm had revenue of $90.97 million during the quarter, compared to analyst estimates of $94.55 million. Equities analysts expect that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.03 per share. The ex-dividend date was Friday, August 29th. This represents a $0.12 annualized dividend and a dividend yield of 1.3%. 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.

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