Goldman Sachs BDC, Inc. $GSBD Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its holdings in Goldman Sachs BDC, Inc. by 14.3%, selling 29,657 shares during the first quarter, resulting in ownership of approximately 0.15% of the company.
• Analysts at Zacks Research downgraded Goldman Sachs BDC to a "strong sell" rating, with the stock currently having a consensus rating of "sell" and a target price of $10.00.
• The company announced a quarterly dividend of $0.03, translating to an annual yield of 1.1%, with a payout ratio currently at 101.59%.

Great Lakes Advisors LLC lowered its position in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 14.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 177,915 shares of the financial services provider's stock after selling 29,657 shares during the quarter. Great Lakes Advisors LLC owned 0.15% of Goldman Sachs BDC worth $2,069,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. grew its stake 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 worth $7,946,000 after purchasing an additional 12,701 shares during the period. Ares Management LLC acquired a new position in shares of Goldman Sachs BDC during the 1st quarter worth $5,373,000. Muzinich & Co. Inc. grew its stake 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 worth $5,049,000 after purchasing an additional 38,845 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of 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 purchasing an additional 30,172 shares during the period. Finally, Meridian Wealth Management LLC grew its stake in shares of 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 purchasing an additional 34,833 shares during the period. 28.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Vivek Bantwal purchased 22,000 shares of the firm's stock in a transaction on Friday, September 12th. The shares were bought at an average cost 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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 investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell" and a consensus price target of $10.00.

Goldman Sachs BDC Price Performance

NYSE GSBD traded up $0.04 during trading hours on Tuesday, reaching $11.21. The company's stock had a trading volume of 185,368 shares, compared to its average volume of 753,197. The stock has a market cap of $1.28 billion, a PE ratio of 8.90 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's 50-day moving average is $11.46 and its two-hundred day moving average is $11.36. 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 issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.38 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%. Analysts forecast that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 29th. Goldman Sachs BDC's dividend payout ratio (DPR) 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.