Goldman Sachs BDC (NYSE:GSBD) Sees Large Volume Increase – Here’s What Happened

Goldman Sachs BDC, Inc. (NYSE:GSBD) shares saw strong trading volume on Tuesday . 1,011,298 shares changed hands during trading, an increase of 48% from the previous session’s volume of 682,024 shares.The stock last traded at $12.04 and had previously closed at $12.24.

Wall Street Analyst Weigh In

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

Goldman Sachs BDC Stock Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s 50 day moving average is $12.99 and its 200-day moving average is $13.97. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 17.01 and a beta of 1.06.

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

Goldman Sachs BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 15.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Goldman Sachs BDC’s dividend payout ratio is presently 257.14%.

Hedge Funds Weigh In On Goldman Sachs BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Goldman Sachs BDC by 10.4% during 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 buying an additional 255,458 shares during the last quarter. Marshall Wace LLP acquired a new stake in Goldman Sachs BDC during the second quarter worth about $18,533,000. Envestnet Asset Management Inc. raised its stake in Goldman Sachs BDC by 17.9% during the second quarter. Envestnet Asset Management Inc. now owns 523,071 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 79,315 shares during the period. Cetera Investment Advisers boosted its holdings in Goldman Sachs BDC by 8.9% in the 2nd quarter. Cetera Investment Advisers now owns 422,010 shares of the financial services provider’s stock valued at $6,343,000 after purchasing an additional 34,631 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Goldman Sachs BDC by 2,121.3% during the 3rd quarter. International Assets Investment Management LLC now owns 329,200 shares of the financial services provider’s stock valued at $45,300,000 after buying an additional 314,380 shares during the period. Hedge funds and other 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.