Confluence Investment Management LLC Invests $2.79 Million in Goldman Sachs BDC, Inc. (NYSE:GSBD)

Confluence Investment Management LLC acquired a new stake in Goldman Sachs BDC, Inc. (NYSE:GSBD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 185,987 shares of the financial services provider’s stock, valued at approximately $2,786,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in shares of Goldman Sachs BDC during the 4th quarter worth about $40,000. Creekmur Asset Management LLC purchased a new position in shares of Goldman Sachs BDC during the 4th quarter worth about $45,000. CWM LLC lifted its holdings in shares of Goldman Sachs BDC by 75.0% during the 4th quarter. CWM LLC now owns 3,500 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 1,500 shares during the period. Cape Investment Advisory Inc. purchased a new position in shares of Goldman Sachs BDC during the 4th quarter worth about $58,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Goldman Sachs BDC during the 4th quarter worth about $65,000. 28.72% of the stock is owned by institutional investors and hedge funds.

Goldman Sachs BDC Stock Up 0.7 %

NYSE:GSBD traded up $0.11 during trading hours on Tuesday, hitting $15.55. The stock had a trading volume of 224,889 shares, compared to its average volume of 603,948. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.12. Goldman Sachs BDC, Inc. has a 1-year low of $13.35 and a 1-year high of $15.94. The business has a 50 day simple moving average of $15.36 and a two-hundred day simple moving average of $15.18. The company has a market cap of $1.75 billion, a PE ratio of 8.04 and a beta of 1.08.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). Goldman Sachs BDC had a net margin of 45.80% and a return on equity of 15.68%. The firm had revenue of $111.54 million during the quarter, compared to analyst estimates of $115.33 million. Analysts predict that Goldman Sachs BDC, Inc. will post 2.14 EPS for the current year.

Goldman Sachs BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.58%. The ex-dividend date of this dividend is Friday, June 28th. Goldman Sachs BDC’s payout ratio is currently 93.75%.

Analysts Set New Price Targets

Several research firms recently commented on GSBD. Wells Fargo & Company lowered shares of Goldman Sachs BDC from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $15.00 to $14.00 in a report on Wednesday, May 29th. StockNews.com downgraded shares of Goldman Sachs BDC from a “buy” rating to a “hold” rating in a research report on Monday, May 20th.

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.