Envestnet Asset Management Inc. Raises Holdings in Goldman Sachs BDC, Inc. (NYSE:GSBD)

Key Points

• Envestnet Asset Management Inc. increased its stake in Goldman Sachs BDC by 24.6%, acquiring an additional 24,687 shares, bringing its total ownership to approximately $1.45 million.
• Goldman Sachs BDC's share price recently decreased by 1.5% to $11.05, and it has reported earnings per share (EPS) of $0.41 for the latest quarter, falling short of analysts' expectations.
• Wells Fargo & Company lowered its price target for Goldman Sachs BDC from $12.00 to $10.00, indicating an "underweight" rating based on recent analyses.

Envestnet Asset Management Inc. boosted its holdings in Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 24.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,142 shares of the financial services provider's stock after purchasing an additional 24,687 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Goldman Sachs BDC worth $1,455,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. LPL Financial LLC grew its holdings in Goldman Sachs BDC by 40.9% during the fourth quarter. LPL Financial LLC now owns 144,335 shares of the financial services provider's stock worth $1,746,000 after buying an additional 41,915 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Goldman Sachs BDC by 31.9% during the fourth quarter. JPMorgan Chase & Co. now owns 293,491 shares of the financial services provider's stock worth $3,551,000 after buying an additional 71,016 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Goldman Sachs BDC by 81.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,858 shares of the financial services provider's stock worth $47,000 after buying an additional 1,728 shares in the last quarter. Trexquant Investment LP grew its holdings in Goldman Sachs BDC by 300.2% during the fourth quarter. Trexquant Investment LP now owns 349,927 shares of the financial services provider's stock worth $4,234,000 after buying an additional 262,488 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Goldman Sachs BDC by 18.4% during the fourth quarter. Wells Fargo & Company MN now owns 327,622 shares of the financial services provider's stock worth $3,964,000 after buying an additional 51,014 shares in the last quarter. 28.72% of the stock is currently owned by institutional investors.

Goldman Sachs BDC Stock Performance

NYSE:GSBD traded up $0.12 during trading on Monday, reaching $11.16. The company's stock had a trading volume of 153,829 shares, compared to its average volume of 789,253. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 24.79 and a beta of 0.75. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a 50 day moving average of $11.54 and a 200-day moving average of $11.69. Goldman Sachs BDC, Inc. has a 12 month low of $9.51 and a 12 month high of $14.56.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.02). The business had revenue of $96.94 million during the quarter, compared to the consensus estimate of $101.12 million. Goldman Sachs BDC had a net margin of 12.38% and a return on equity of 15.05%. Research analysts expect that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a $0.05 dividend. This represents a yield of 1,709.0%. The ex-dividend date was Friday, May 30th. Goldman Sachs BDC's dividend payout ratio is 284.44%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their price target on Goldman Sachs BDC from $12.00 to $10.00 and set an "underweight" rating for the company in a report on Monday, April 28th.

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.