MAI Capital Management Trims Stake 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 reduced its stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 91.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

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

Goldman Sachs BDC Price Performance

Goldman Sachs BDC stock traded up $0.04 during mid-day trading on Thursday, hitting $11.35. The stock had a trading volume of 343,498 shares, compared to its average volume of 756,465. The firm has a market capitalization of $1.29 billion, a P/E ratio of 8.99 and a beta of 0.75. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.19. The firm's 50 day moving average is $11.47 and its 200 day moving average is $11.42. Goldman Sachs BDC, Inc. has a one year low of $9.51 and a one year high of $14.54.

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 for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $90.97 million during 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%. On average, sell-side analysts forecast that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current fiscal year.

Goldman Sachs BDC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given 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 is Friday, August 29th. Goldman Sachs BDC's dividend payout ratio is currently 101.59%.

Analyst Upgrades and Downgrades

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

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.