Goldman Sachs BDC (NYSE:GSBD) Shares Break Below Fifty Day Moving Average - Here's What Happened

Goldman Sachs BDC, Inc. (NYSE:GSBD - Get Free Report)'s stock price crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $9.54 and traded as low as $9.37. Goldman Sachs BDC shares last traded at $9.4470, with a volume of 1,062,875 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America reaffirmed an "underperform" rating and issued a $8.50 target price (down from $9.00) on shares of Goldman Sachs BDC in a research note on Thursday, July 9th. Weiss Ratings reissued a "hold (c-)" rating on shares of Goldman Sachs BDC in a report on Friday, August 28th. The Goldman Sachs Group cut shares of Goldman Sachs BDC from a "neutral" rating to a "reduce" rating and set a $8.50 price objective for the company. in a research report on Thursday, July 9th. Zacks Research raised shares of Goldman Sachs BDC from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, Truist Financial boosted their target price on shares of Goldman Sachs BDC from $9.00 to $10.00 and gave the company a "hold" rating in a report on Monday, August 10th. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $8.75.

Goldman Sachs BDC Trading Down 1.0%

The company has a 50 day moving average price of $9.54 and a 200 day moving average price of $9.33. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 18.17 and a beta of 0.60. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.69 and a current ratio of 0.69.

Goldman Sachs BDC (NYSE:GSBD - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. The business had revenue of $35.08 million during the quarter, compared to analysts' expectations of $78.89 million. Goldman Sachs BDC had a return on equity of 11.04% and a net margin of 17.19%. On average, research analysts expect that Goldman Sachs BDC, Inc. will post 1.29 earnings per share for the current year.

Goldman Sachs BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 13.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Goldman Sachs BDC's dividend payout ratio (DPR) is 246.15%.

Institutional Investors Weigh In On Goldman Sachs BDC

Institutional investors and hedge funds have recently made changes to their positions in the stock. SHP Wealth Management purchased a new position in shares of Goldman Sachs BDC during the 4th quarter worth approximately $63,000. Integrated Wealth Concepts LLC purchased a new stake in Goldman Sachs BDC in the second quarter valued at approximately $89,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Goldman Sachs BDC in the first quarter valued at approximately $114,000. Kavar Capital Partners Group LLC acquired a new position in Goldman Sachs BDC during the first quarter worth $119,000. Finally, Sovran Advisors LLC lifted its stake in Goldman Sachs BDC by 14.4% during the first quarter. Sovran Advisors LLC now owns 14,245 shares of the financial services provider's stock worth $140,000 after purchasing an additional 1,790 shares in the last quarter. 28.72% of the stock is owned by hedge funds and other institutional investors.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc NYSE: GSBD is a business development company that invests in privately held, middle-market businesses. The company seeks to generate income and provide long-term capital appreciation by making investments primarily in debt securities and, to a lesser extent, equity interests.

Goldman Sachs BDC's portfolio typically includes senior secured loans, unitranche loans, second-lien loans and subordinated debt, along with equity investments such as warrants or other ownership interests.

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