Saxon Interests Inc. Purchases New Shares in Goldman Sachs BDC, Inc. $GSBD

Key Points

• Saxon Interests Inc. initiated a new position in Goldman Sachs BDC, buying 121,880 shares valued at about $1.13 million in the fourth quarter. The stake represented roughly 0.11% of the company.
• Goldman Sachs BDC recently reported weaker-than-expected quarterly results, posting $0.22 EPS versus the $0.29 consensus and revenue of $10.35 million versus expectations of $83.78 million. Analysts currently hold a Reduce consensus rating with an average price target of $9.17.
• The company declared a quarterly dividend of $0.32 per share, payable July 28, implying an annualized yield of about 13.8%. However, the dividend payout ratio is very high at 196.92%, suggesting sustainability may be a concern.

Saxon Interests Inc. purchased a new stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 121,880 shares of the financial services provider's stock, valued at approximately $1,131,000. Saxon Interests Inc. owned approximately 0.11% of Goldman Sachs BDC as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GSBD. ORG Partners LLC purchased a new stake in shares of Goldman Sachs BDC in the 4th quarter worth approximately $33,000. Quantbot Technologies LP purchased a new stake in shares of Goldman Sachs BDC in the 2nd quarter worth approximately $62,000. Advisory Services Network LLC purchased a new stake in shares of Goldman Sachs BDC in the 3rd quarter worth approximately $68,000. Farther Finance Advisors LLC purchased a new stake in shares of Goldman Sachs BDC in the 4th quarter worth approximately $77,000. Finally, Sound Income Strategies LLC grew its stake in shares of Goldman Sachs BDC by 592.6% in the 4th quarter. Sound Income Strategies LLC now owns 10,265 shares of the financial services provider's stock worth $95,000 after buying an additional 8,783 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors.

Goldman Sachs BDC Price Performance

Shares of Goldman Sachs BDC stock opened at $9.24 on Friday. Goldman Sachs BDC, Inc. has a one year low of $8.65 and a one year high of $12.03. The stock's fifty day moving average is $9.24 and its 200 day moving average is $9.35. The stock has a market cap of $1.04 billion, a P/E ratio of 14.22 and a beta of 0.58. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). The business had revenue of $10.35 million for the quarter, compared to the consensus estimate of $83.78 million. Goldman Sachs BDC had a net margin of 21.32% and a return on equity of 10.94%. Sell-side analysts anticipate that Goldman Sachs BDC, Inc. will post 1.15 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.28 dividend on an annualized basis and a yield of 13.8%. Goldman Sachs BDC's dividend payout ratio (DPR) is currently 196.92%.

Analysts Set New Price Targets

Several analysts recently weighed in on GSBD shares. Weiss Ratings restated a "hold (c-)" rating on shares of Goldman Sachs BDC in a research note on Tuesday, June 2nd. Wall Street Zen downgraded Goldman Sachs BDC from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Zacks Research downgraded Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 19th. Wells Fargo & Company cut their price target on Goldman Sachs BDC from $9.00 to $8.00 and set an "underweight" rating on the stock in a research note on Monday, March 2nd. Finally, Truist Financial cut their target price on Goldman Sachs BDC from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Tuesday, May 19th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $9.17.

Insider Buying and Selling

In other Goldman Sachs BDC news, Director Carlos E. Evans purchased 50,000 shares of the firm's stock in a transaction on Thursday, April 2nd. The shares were acquired at an average cost of $9.02 per share, with a total value of $451,000.00. Following the completion of the acquisition, the director directly owned 64,446 shares in the company, valued at $581,302.92. The trade was a 346.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Goldman Sachs BDC Profile

Goldman Sachs BDC, Inc NYSE: GSBD is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company's primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management's Private Credit Group, leveraging the firm's global research capabilities and risk management infrastructure.

Want to see what other hedge funds are holding GSBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.