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 acquired a new position in Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,685,433 shares of the financial services provider's stock, valued at approximately $97,711,000. Kingstone Capital Partners Texas LLC owned 7.40% of Goldman Sachs BDC as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GSBD. Ares Management LLC acquired a new position in Goldman Sachs BDC in the 1st quarter worth about $5,373,000. North Ground Capital raised its position in shares of Goldman Sachs BDC by 473.8% during the 1st quarter. North Ground Capital now owns 280,000 shares of the financial services provider's stock worth $2,996,000 after purchasing an additional 231,205 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Goldman Sachs BDC by 3,226.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 199,174 shares of the financial services provider's stock worth $2,316,000 after purchasing an additional 193,186 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Goldman Sachs BDC during the 4th quarter worth about $1,690,000. Finally, Transcend Capital Advisors LLC acquired a new position in shares of Goldman Sachs BDC during the first quarter valued at approximately $1,588,000. Institutional investors and hedge funds own 28.72% of the company's stock.

Insider Activity

In other Goldman Sachs BDC news, CEO Vivek Bantwal acquired 22,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $11.36 per share, with a total value of $249,920.00. Following the transaction, the chief executive officer owned 22,000 shares of the company's stock, valued at $249,920. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.12% 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 research note on Friday, August 15th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell" and an average target price of $10.00.

Goldman Sachs BDC Price Performance

Shares of NYSE:GSBD traded down $0.15 during midday trading on Monday, hitting $11.09. The company had a trading volume of 878,963 shares, compared to its average volume of 756,401. Goldman Sachs BDC, Inc. has a twelve month low of $9.51 and a twelve month high of $14.54. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 8.80 and a beta of 0.75. The business's 50-day simple moving average is $11.42 and its 200-day simple moving average is $11.32. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.50 and a quick ratio of 1.50.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $94.55 million. Goldman Sachs BDC had a return on equity of 13.95% and a net margin of 36.17%. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis 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 presently 101.59%.

Goldman Sachs BDC Company 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.