Zacks Investment Research upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a strong sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Goldman Sachs BDC, Inc. is a specialty finance company. The Company invests primarily in telecommunication services, electronic equipment, instruments and components and real estate management and development industries. Goldman Sachs BDC, Inc. is based in NEW YORK, United States. “
Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Goldman Sachs BDC from a c rating to a b- rating in a research report on Thursday, December 21st. BidaskClub raised shares of Goldman Sachs BDC from a sell rating to a hold rating in a research report on Thursday, September 28th. Finally, National Securities reaffirmed a neutral rating and issued a $22.00 price objective on shares of Goldman Sachs BDC in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $22.80.
Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Goldman Sachs BDC had a net margin of 32.19% and a return on equity of 11.34%. The firm had revenue of $34.40 million for the quarter, compared to the consensus estimate of $33.56 million. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. equities research analysts expect that Goldman Sachs BDC will post 2.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.29%. The ex-dividend date is Thursday, December 28th. Goldman Sachs BDC’s dividend payout ratio is presently -818.18%.
In related news, Director Jaime Ardila bought 8,108 shares of the company’s stock in a transaction on Friday, December 1st. The shares were bought at an average price of $21.84 per share, with a total value of $177,078.72. Following the transaction, the director now owns 12,791 shares in the company, valued at $279,355.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Global X MANAGEMENT CO LLC boosted its holdings in shares of Goldman Sachs BDC by 49.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 8,384 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 2,776 shares during the last quarter. Advisors Capital Management LLC purchased a new stake in shares of Goldman Sachs BDC in the 3rd quarter valued at $202,000. Pinebridge Investments L.P. boosted its holdings in shares of Goldman Sachs BDC by 0.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 9,946 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 37 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Goldman Sachs BDC by 1.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,445 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 139 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Goldman Sachs BDC in the 3rd quarter valued at $428,000. 36.49% of the stock is currently owned by institutional investors and hedge funds.
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About Goldman Sachs BDC
Goldman Sachs BDC, Inc is a closed-end management investment company. The Company is a specialty finance company, which is focused on lending to middle-market companies. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, including first lien, unitranche, including last out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
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