Goldman Sachs BDC (NYSE:GSBD) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Goldman Sachs BDC from “strong sell” to “hold,” but the broader analyst consensus remains “Reduce,” with an average price target of $8.50.
• GSBD shares opened at $8.85, near the lower end of their one-year range of $8.35 to $11.62. The company’s latest quarterly EPS of $0.22 missed analysts’ $0.29 estimate.
• Institutional investors and hedge funds increased their holdings in the first quarter, collectively owning 28.72% of Goldman Sachs BDC’s outstanding stock.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Goldman Sachs BDC in a report on Tuesday, June 2nd. The Goldman Sachs Group lowered Goldman Sachs BDC from a "neutral" rating to a "reduce" rating and set a $8.50 price objective for the company. in a report on Thursday, July 9th. Wall Street Zen cut Goldman Sachs BDC from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Truist Financial dropped 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. Finally, Bank of America reaffirmed an "underperform" rating and set a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $8.50.

Goldman Sachs BDC Stock Performance

Shares of Goldman Sachs BDC stock opened at $8.85 on Tuesday. Goldman Sachs BDC has a one year low of $8.35 and a one year high of $11.62. The company has a market capitalization of $995.68 million, a PE ratio of 13.61 and a beta of 0.56. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day simple moving average of $9.06 and a two-hundred day simple moving average of $9.21.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last issued its quarterly earnings data 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. Research analysts expect that Goldman Sachs BDC will post 1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Goldman Sachs BDC

Several institutional investors and hedge funds have recently made changes to their positions in GSBD. Southern Financial Group LLC grew its holdings in shares of Goldman Sachs BDC by 11.1% during the first quarter. Southern Financial Group LLC now owns 18,110 shares of the financial services provider's stock valued at $161,000 after buying an additional 1,806 shares during the last quarter. Bank of America Corp DE lifted its position in 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 worth $8,858,000 after acquiring an additional 11,915 shares during the period. Arkadios Wealth Advisors grew its stake in Goldman Sachs BDC by 3.9% during the 1st quarter. Arkadios Wealth Advisors now owns 54,217 shares of the financial services provider's stock valued at $481,000 after purchasing an additional 2,047 shares during the last quarter. Entropy Technologies LP increased its holdings in shares of Goldman Sachs BDC by 49.8% in the first quarter. Entropy Technologies LP now owns 31,462 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 10,463 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Goldman Sachs BDC by 13.4% in the first quarter. Cetera Investment Advisers now owns 85,417 shares of the financial services provider's stock worth $759,000 after purchasing an additional 10,111 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.

About Goldman Sachs BDC

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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