UBS Group AG Raises Stock Holdings in Goldman Sachs BDC, Inc. $GSBD

Key Points

• UBS Group AG increased its stake in Goldman Sachs BDC by 18.2% in the fourth quarter, bringing its holdings to 1.61 million shares valued at about $14.9 million.
• Wall Street sentiment remains cautious: the stock has a consensus rating of "Reduce" with an average target price of $9.50, while recent analyst moves included multiple hold ratings and lower price targets.
• Goldman Sachs BDC reported Q1 earnings that missed expectations, posting $0.22 EPS versus $0.29 expected, and it also announced a quarterly dividend of $0.32 per share, implying a high annualized yield of 14.3%.

UBS Group AG lifted its holdings in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD - Free Report) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,607,176 shares of the financial services provider's stock after acquiring an additional 247,163 shares during the quarter. UBS Group AG owned 1.41% of Goldman Sachs BDC worth $14,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GSBD. XTX Topco Ltd purchased a new stake in shares of Goldman Sachs BDC during the second quarter valued at approximately $194,000. Quantbot Technologies LP purchased a new stake in shares of Goldman Sachs BDC during the second quarter valued at approximately $62,000. Invesco Ltd. increased its position in shares of Goldman Sachs BDC by 6.1% during the second quarter. Invesco Ltd. now owns 931,618 shares of the financial services provider's stock valued at $10,481,000 after acquiring an additional 53,678 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Goldman Sachs BDC during the second quarter valued at approximately $1,832,000. Finally, Cresset Asset Management LLC increased its position in shares of Goldman Sachs BDC by 80.7% during the second quarter. Cresset Asset Management LLC now owns 31,293 shares of the financial services provider's stock valued at $367,000 after acquiring an additional 13,975 shares during the last quarter. 28.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on GSBD shares. Weiss Ratings raised Goldman Sachs BDC from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, March 5th. Truist Financial decreased their target price on Goldman Sachs BDC from $11.00 to $10.00 and set a "hold" rating for the company in a research report on Wednesday, March 4th. Wells Fargo & Company decreased their target price on Goldman Sachs BDC from $9.00 to $8.00 and set an "underweight" rating for the company in a research report on Monday, March 2nd. Finally, Wall Street Zen raised Goldman Sachs BDC from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Goldman Sachs BDC presently has a consensus rating of "Reduce" and an average target price of $9.50.

Insider Buying and Selling at Goldman Sachs BDC

In related news, Director Carlos E. Evans purchased 50,000 shares of Goldman Sachs BDC stock in a transaction dated Thursday, April 2nd. The stock was bought at an average cost of $9.02 per share, for a total transaction of $451,000.00. Following the completion of the transaction, the director owned 64,446 shares in the company, valued at $581,302.92. This trade represents a 346.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company's stock.

Goldman Sachs BDC Stock Performance

NYSE:GSBD opened at $8.94 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.01. The business has a fifty day simple moving average of $9.32 and a two-hundred day simple moving average of $9.47. Goldman Sachs BDC, Inc. has a 1 year low of $8.66 and a 1 year high of $12.03. The company has a market capitalization of $1.01 billion, a P/E ratio of 13.75 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.07). Goldman Sachs BDC had a return on equity of 10.94% and a net margin of 21.32%.The firm had revenue of $10.35 million during the quarter, compared to analysts' expectations of $83.78 million. On average, analysts expect that Goldman Sachs BDC, Inc. will post 1.27 earnings per share for the current year.

Goldman Sachs BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Goldman Sachs BDC's dividend payout ratio (DPR) is currently 196.92%.

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.

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