Goldman Sachs BDC (NYSE:GSBD) Stock Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• GSBD shares moved above their 50-day moving average, reaching $9.89 before closing at $9.77 on volume of about 980,000 shares.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and three rate it Sell, producing an average “Reduce” rating and an $8.75 price target.
• Goldman Sachs BDC reported quarterly EPS of $0.37, beating estimates by $0.06, and announced a quarterly dividend of $0.32, equivalent to a 13.1% annualized yield.

Goldman Sachs BDC, Inc. (NYSE:GSBD - Get Free Report)'s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.16 and traded as high as $9.89. Goldman Sachs BDC shares last traded at $9.77, with a volume of 980,036 shares traded.

Analysts Set New Price Targets

Several research analysts have weighed in on GSBD shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Goldman Sachs BDC in a research note on Tuesday, June 2nd. Bank of America reaffirmed an "underperform" rating and set a $8.50 price target (down from $9.00) on shares of Goldman Sachs BDC in a report on Thursday, July 9th. Zacks Research upgraded shares of Goldman Sachs BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Goldman Sachs BDC from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Truist Financial raised their target price on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Goldman Sachs BDC has an average rating of "Reduce" and an average target price of $8.75.

Goldman Sachs BDC Trading Down 0.8%

The firm has a market capitalization of $1.10 billion, a PE ratio of 18.79 and a beta of 0.57. The business has a 50 day moving average price of $9.16 and a 200-day moving average price of $9.21. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.36.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. Goldman Sachs BDC had a return on equity of 11.04% and a net margin of 17.19%.The business had revenue of $35.08 million during the quarter, compared to analysts' expectations of $78.89 million. Analysts expect that Goldman Sachs BDC, Inc. will post 1.2 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.28 dividend on an annualized basis and a yield of 13.1%. Goldman Sachs BDC's dividend payout ratio (DPR) is 246.15%.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its stake in shares of Goldman Sachs BDC by 18.2% in the fourth quarter. UBS Group AG now owns 1,607,176 shares of the financial services provider's stock valued at $14,915,000 after purchasing an additional 247,163 shares during the period. Invesco Ltd. grew its position in Goldman Sachs BDC by 40.1% during the fourth quarter. Invesco Ltd. now owns 1,490,799 shares of the financial services provider's stock worth $13,835,000 after buying an additional 426,859 shares during the period. Ares Management LLC increased its holdings in Goldman Sachs BDC by 77.0% in the fourth quarter. Ares Management LLC now owns 1,413,058 shares of the financial services provider's stock valued at $13,113,000 after buying an additional 614,637 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Goldman Sachs BDC by 412.8% in the second quarter. Balyasny Asset Management L.P. now owns 1,103,870 shares of the financial services provider's stock valued at $12,419,000 after buying an additional 888,608 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Goldman Sachs BDC by 1.2% during the 1st quarter. Bank of America Corp DE now owns 997,570 shares of the financial services provider's stock valued at $8,858,000 after acquiring an additional 11,915 shares during the period. 28.72% of the stock is owned by institutional investors and hedge funds.

Goldman Sachs BDC Company 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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