Stratos Wealth Partners LTD. Trims Stake in Goldman Sachs BDC, Inc. $GSBD

Key Points

• Stratos Wealth Partners LTD. has reduced its stake in Goldman Sachs BDC, Inc. by 31.0%, now holding approximately 0.15% of the company worth about $1.93 million after selling 77,077 shares.
• Goldman Sachs BDC recently announced a quarterly dividend of $0.03, which represents an annualized yield of 1.2%, despite a payout ratio of over 100%.
• Goldman Sachs BDC's latest earnings report showed a miss in earnings per share, reporting $0.38 against the projected $0.40, raising concerns among analysts reflected in the stock’s Sell consensus rating.

Stratos Wealth Partners LTD. trimmed its holdings in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 31.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,716 shares of the financial services provider's stock after selling 77,077 shares during the quarter. Stratos Wealth Partners LTD. owned about 0.15% of Goldman Sachs BDC worth $1,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in Goldman Sachs BDC during the second quarter worth about $34,000. Creative Financial Designs Inc. ADV purchased a new position in Goldman Sachs BDC during the first quarter worth about $46,000. Private Trust Co. NA grew its position in Goldman Sachs BDC by 1,471.7% during the second quarter. Private Trust Co. NA now owns 5,045 shares of the financial services provider's stock worth $57,000 after buying an additional 4,724 shares in the last quarter. Mallini Complete Financial Planning LLC purchased a new position in Goldman Sachs BDC during the first quarter worth about $119,000. Finally, Catalina Capital Group LLC purchased a new position in Goldman Sachs BDC during the second quarter worth about $140,000. 28.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Goldman Sachs BDC

In related news, CEO Vivek Bantwal bought 22,000 shares of the stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $11.36 per share, with a total value of $249,920.00. Following the purchase, the chief executive officer owned 22,000 shares in the company, valued at approximately $249,920. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company's stock.

Goldman Sachs BDC Trading Up 0.9%

NYSE GSBD opened at $9.81 on Tuesday. Goldman Sachs BDC, Inc. has a 1-year low of $9.38 and a 1-year high of $13.76. 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 stock has a 50-day moving average of $10.85 and a 200-day moving average of $11.06. The firm has a market cap of $1.12 billion, a PE ratio of 7.78 and a beta of 0.73.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Goldman Sachs BDC had a net margin of 36.17% and a return on equity of 13.95%. The company had revenue of $90.97 million during the quarter, compared to the consensus estimate of $94.55 million. As a group, sell-side analysts forecast 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 was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Goldman Sachs BDC's payout ratio is 101.59%.

Analysts Set New Price Targets

Several brokerages have issued reports on GSBD. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Goldman Sachs BDC in a research note on Wednesday, October 8th. Zacks Research lowered Goldman Sachs BDC from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. One research analyst has 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 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.

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