Goldman Sachs BDC (NYSE:GSBD) Hits New 1-Year Low – Here’s Why

Goldman Sachs BDC, Inc. (NYSE:GSBD)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $11.85 and last traded at $11.90, with a volume of 458281 shares trading hands. The stock had previously closed at $12.01.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th.

Goldman Sachs BDC Stock Performance

The stock has a 50 day moving average price of $12.83 and a two-hundred day moving average price of $13.83. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 16.94 and a beta of 1.06.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, November 7th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $110.41 million during the quarter, compared to the consensus estimate of $112.43 million. Goldman Sachs BDC had a net margin of 17.01% and a return on equity of 15.72%. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, analysts predict that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current fiscal year.

Goldman Sachs BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Tuesday, December 31st will be given a $0.45 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.80 annualized dividend and a dividend yield of 15.18%. Goldman Sachs BDC’s dividend payout ratio is currently 257.14%.

Institutional Investors Weigh In On Goldman Sachs BDC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in shares of Goldman Sachs BDC in the 2nd quarter valued at $18,533,000. International Assets Investment Management LLC grew its stake in Goldman Sachs BDC by 2,121.3% in the third quarter. International Assets Investment Management LLC now owns 329,200 shares of the financial services provider’s stock valued at $45,300,000 after acquiring an additional 314,380 shares during the period. Van ECK Associates Corp increased its holdings in shares of Goldman Sachs BDC by 10.4% in the third quarter. Van ECK Associates Corp now owns 2,706,897 shares of the financial services provider’s stock worth $36,408,000 after acquiring an additional 255,458 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Goldman Sachs BDC by 221.7% during the third quarter. JPMorgan Chase & Co. now owns 222,475 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 153,316 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Goldman Sachs BDC during the 3rd quarter valued at about $1,101,000. Institutional investors own 28.72% of the company’s stock.

Goldman Sachs BDC Company Profile

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.