Parallel Advisors LLC Trims Holdings in Goldman Sachs BDC, Inc. (NYSE:GSBD)

Parallel Advisors LLC lowered its stake in shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) by 12.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 57,002 shares of the financial services provider’s stock after selling 7,769 shares during the period. Parallel Advisors LLC owned approximately 0.05% of Goldman Sachs BDC worth $857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GSBD. WFA Asset Management Corp acquired a new position in shares of Goldman Sachs BDC in the first quarter valued at approximately $29,000. Register Financial Advisors LLC acquired a new position in shares of Goldman Sachs BDC during the first quarter worth $41,000. Creekmur Asset Management LLC acquired a new position in shares of Goldman Sachs BDC during the 4th quarter worth about $45,000. Cape Investment Advisory Inc. purchased a new stake in Goldman Sachs BDC during the fourth quarter worth approximately $58,000. Finally, Tucker Asset Management LLC acquired a new position in Goldman Sachs BDC in the fourth quarter valued at approximately $65,000. 28.72% of the stock is currently owned by hedge funds and other institutional investors.

Goldman Sachs BDC Stock Up 0.8 %

GSBD stock opened at $14.40 on Tuesday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 7.50 and a beta of 1.07. The company has a fifty day moving average price of $14.51 and a 200 day moving average price of $15.03. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.22 and a quick ratio of 1.22. Goldman Sachs BDC, Inc. has a 12 month low of $13.39 and a 12 month high of $15.94.

Goldman Sachs BDC (NYSE:GSBD) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Goldman Sachs BDC had a net margin of 19.84% and a return on equity of 15.79%. The business had revenue of $108.62 million during the quarter, compared to analysts’ expectations of $112.07 million. Sell-side analysts expect that Goldman Sachs BDC, Inc. will post 2.19 earnings per share for the current year.

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, September 30th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.80 dividend on an annualized basis and a yield of 12.50%. Goldman Sachs BDC’s payout ratio is 93.75%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GSBD shares. Wells Fargo & Company raised shares of Goldman Sachs BDC from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $14.00 to $12.00 in a report on Monday, August 12th. StockNews.com downgraded shares of Goldman Sachs BDC from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Truist Financial cut their target price on Goldman Sachs BDC from $16.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, August 12th.

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.