Kingstone Capital Partners Texas LLC Takes $97.71 Million Position in Goldman Sachs BDC, Inc. $GSBD

Key Points

• Kingstone Capital Partners Texas LLC has invested approximately $97.71 million in Goldman Sachs BDC, acquiring around 8.7 million shares, making up 7.40% of the company.
• Goldman Sachs BDC reported earnings per share of $0.38 for the last quarter, falling short of the consensus estimate of $0.40.
• The company has recently faced a dividend cut, declaring a quarterly dividend of only $0.03, reflecting a high payout ratio of 101.59%.

Kingstone Capital Partners Texas LLC purchased a new stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,685,433 shares of the financial services provider's stock, valued at approximately $97,711,000. Kingstone Capital Partners Texas LLC owned about 7.40% of Goldman Sachs BDC as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Adams Asset Advisors LLC grew its position in Goldman Sachs BDC by 21.3% during the 2nd quarter. Adams Asset Advisors LLC now owns 325,788 shares of the financial services provider's stock worth $3,665,000 after acquiring an additional 57,195 shares during the last quarter. Garde Capital Inc. increased its position in Goldman Sachs BDC by 1.0% in the 2nd quarter. Garde Capital Inc. now owns 100,500 shares of the financial services provider's stock valued at $1,131,000 after acquiring an additional 1,000 shares in the last quarter. Ares Management LLC acquired a new stake in Goldman Sachs BDC in the 1st quarter valued at about $5,373,000. Cubist Systematic Strategies LLC grew its stake in shares of Goldman Sachs BDC by 111.9% during the first quarter. Cubist Systematic Strategies LLC now owns 38,958 shares of the financial services provider's stock valued at $453,000 after purchasing an additional 20,575 shares during the last quarter. Finally, North Ground Capital grew its stake in shares of Goldman Sachs BDC by 473.8% during the first quarter. North Ground Capital now owns 280,000 shares of the financial services provider's stock valued at $2,996,000 after purchasing an additional 231,205 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors.

Insider Transactions at Goldman Sachs BDC

In related news, CEO Vivek Bantwal acquired 22,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $11.36 per share, for a total transaction of $249,920.00. Following the acquisition, the chief executive officer directly owned 22,000 shares of the company's stock, valued at approximately $249,920. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company's stock.

Goldman Sachs BDC Stock Up 0.9%

GSBD traded up $0.10 during trading on Tuesday, hitting $11.16. The company had a trading volume of 207,923 shares, compared to its average volume of 754,203. The firm's 50-day moving average price is $11.41 and its 200 day moving average price is $11.32. Goldman Sachs BDC, Inc. has a one year low of $9.51 and a one year high of $14.54. The company has a market capitalization of $1.27 billion, a PE ratio of 8.86 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 (NYSE:GSBD - Get Free Report) last posted 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 firm had revenue of $90.97 million for the quarter, compared to the consensus estimate of $94.55 million. Goldman Sachs BDC had a return on equity of 13.95% and a net margin of 36.17%. As a group, equities analysts expect that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 29th. Goldman Sachs BDC's payout ratio is presently 101.59%.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell" and an average target price of $10.00.

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.