MAI Capital Management Has $61,000 Stock Position in Goldman Sachs BDC, Inc. $GSBD

Key Points

• MAI Capital Management drastically reduced its holdings in Goldman Sachs BDC, Inc. by 91.8%, selling 58,248 shares to own only 5,216 shares worth $61,000.
• Goldman Sachs BDC has faced downgrades from analysts, including Zacks Research, which changed its rating from "hold" to a "strong sell."
• The company reported earnings of $0.38 per share for the last quarter, falling short of the expected $0.40, alongside a recent dividend cut to $0.03 per share.

MAI Capital Management cut its holdings in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 91.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,216 shares of the financial services provider's stock after selling 58,248 shares during the quarter. MAI Capital Management's holdings in Goldman Sachs BDC were worth $61,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Stiles Financial Services Inc increased its holdings in shares of Goldman Sachs BDC by 165.4% during the first 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 during the period. Envestnet Asset Management Inc. increased its holdings in shares of Goldman Sachs BDC by 24.6% during the first quarter. Envestnet Asset Management Inc. now owns 125,142 shares of the financial services provider's stock worth $1,455,000 after purchasing an additional 24,687 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Goldman Sachs BDC by 7.8% during the first 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. Ameriprise Financial Inc. increased its holdings in shares of Goldman Sachs BDC by 25.6% during the fourth quarter. Ameriprise Financial Inc. now owns 125,016 shares of the financial services provider's stock worth $1,477,000 after purchasing an additional 25,491 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Goldman Sachs BDC by 198.6% during the fourth quarter. BNP Paribas Financial Markets now owns 105,442 shares of the financial services provider's stock worth $1,276,000 after purchasing an additional 70,131 shares during the period. 28.72% of the stock is owned by institutional investors.

Goldman Sachs BDC Price Performance

Shares of NYSE GSBD traded down $0.06 during trading hours on Friday, hitting $11.38. 443,755 shares of the stock were exchanged, compared to its average volume of 477,565. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $1.30 billion, a PE ratio of 9.03 and a beta of 0.75. The company's fifty day simple moving average is $11.46 and its two-hundred day simple moving average is $11.39. Goldman Sachs BDC, Inc. has a 1-year low of $9.51 and a 1-year high of $14.54.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last posted its quarterly 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). 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, sell-side analysts predict that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.03 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.1%. Goldman Sachs BDC's dividend payout ratio (DPR) is currently 101.59%.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of 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, According to MarketBeat, the stock has a consensus rating of "Sell" and an average 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.