LPL Financial LLC Grows Stake in Goldman Sachs BDC, Inc. $GSBD

Key Points

• LPL Financial LLC increased its holdings in Goldman Sachs BDC, raising its position by 17.4% to own approximately 169,397 shares worth $1.97 million.
• Goldman Sachs BDC's stock rating has been downgraded to a "strong sell" by Zacks Research, and the average price target for the stock is currently $10.00.
• The company announced a quarterly dividend of $0.32, yielding approximately 11.3%, despite having a payout ratio of 101.59%.

LPL Financial LLC raised its holdings in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,397 shares of the financial services provider's stock after buying an additional 25,062 shares during the quarter. LPL Financial LLC owned about 0.14% of Goldman Sachs BDC worth $1,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stiles Financial Services Inc boosted its holdings in shares of Goldman Sachs BDC by 165.4% in the 1st quarter. Stiles Financial Services Inc now owns 84,083 shares of the financial services provider's stock worth $978,000 after purchasing an additional 52,406 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Goldman Sachs BDC by 24.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 125,142 shares of the financial services provider's stock valued at $1,455,000 after purchasing an additional 24,687 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in 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 valued at $4,862,000 after purchasing an additional 30,172 shares during the last quarter. Ameriprise Financial Inc. raised its position in Goldman Sachs BDC by 25.6% during the 4th quarter. Ameriprise Financial Inc. now owns 125,016 shares of the financial services provider's stock valued at $1,477,000 after purchasing an additional 25,491 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Goldman Sachs BDC by 198.6% in the 4th quarter. BNP Paribas Financial Markets now owns 105,442 shares of the financial services provider's stock worth $1,276,000 after acquiring an additional 70,131 shares in the last quarter. 28.72% of the stock is currently owned by hedge funds and other institutional investors.

Goldman Sachs BDC Price Performance

Shares of GSBD stock traded down $0.0950 during trading hours on Monday, hitting $11.3350. The stock had a trading volume of 307,572 shares, compared to its average volume of 776,391. Goldman Sachs BDC, Inc. has a one year low of $9.51 and a one year high of $14.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.50 and a quick ratio of 1.50. The stock's 50-day moving average price is $11.49 and its two-hundred day moving average price is $11.54. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.00 and a beta of 0.75.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). Goldman Sachs BDC had a return on equity of 13.95% and a net margin of 36.17%.The firm had revenue of $90.97 million during the quarter, compared to the consensus estimate of $94.55 million. Equities 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 announced a dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.03 dividend. This represents a dividend yield of 1,743.0%. The ex-dividend date of this dividend is Friday, August 29th. Goldman Sachs BDC's payout ratio is 101.59%.

Analyst Ratings Changes

GSBD has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Goldman Sachs BDC from $12.00 to $10.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th. Zacks Research downgraded Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Goldman Sachs BDC currently has an average rating of "Sell" and a consensus price target 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.