Goldman Sachs BDC (NYSE:GSBD) Upgraded to “Buy” at StockNews.com

Goldman Sachs BDC (NYSE:GSBD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Wells Fargo & Company lifted their price objective on Goldman Sachs BDC from $14.50 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th.

Goldman Sachs BDC Stock Performance

GSBD stock traded up $0.20 during midday trading on Friday, reaching $15.68. The stock had a trading volume of 743,053 shares, compared to its average volume of 586,230. The stock has a market cap of $1.76 billion, a PE ratio of 8.71 and a beta of 1.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a fifty day simple moving average of $15.21 and a two-hundred day simple moving average of $14.88. Goldman Sachs BDC has a 52-week low of $12.75 and a 52-week high of $15.72.

Goldman Sachs BDC (NYSE:GSBD) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $117.09 million. Goldman Sachs BDC had a return on equity of 15.05% and a net margin of 43.06%. As a group, equities research analysts anticipate that Goldman Sachs BDC will post 2.18 EPS for the current year.

Hedge Funds Weigh In On Goldman Sachs BDC

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Goldman Sachs BDC by 10.6% in the 4th quarter. Van ECK Associates Corp now owns 1,888,203 shares of the financial services provider’s stock valued at $27,662,000 after purchasing an additional 180,880 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Goldman Sachs BDC by 2.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,138,467 shares of the financial services provider’s stock valued at $17,054,000 after purchasing an additional 30,886 shares in the last quarter. Invesco Ltd. increased its stake in shares of Goldman Sachs BDC by 3.3% in the 3rd quarter. Invesco Ltd. now owns 862,743 shares of the financial services provider’s stock valued at $12,562,000 after purchasing an additional 27,451 shares in the last quarter. Advisors Capital Management LLC increased its stake in shares of Goldman Sachs BDC by 2.6% in the 3rd quarter. Advisors Capital Management LLC now owns 651,264 shares of the financial services provider’s stock valued at $9,482,000 after purchasing an additional 16,512 shares in the last quarter. Finally, Shikiar Asset Management Inc. boosted its holdings in Goldman Sachs BDC by 30.3% in the 1st quarter. Shikiar Asset Management Inc. now owns 477,575 shares of the financial services provider’s stock worth $7,154,000 after buying an additional 110,975 shares during the last quarter. Hedge funds and other institutional investors own 28.72% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.