Wells Fargo & Company Has Lowered Expectations for Goldman Sachs BDC (NYSE:GSBD) Stock Price

Goldman Sachs BDC (NYSE:GSBD) had its price objective reduced by equities researchers at Wells Fargo & Company from $12.00 to $10.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 7.19% from the stock’s current price.

Separately, StockNews.com raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Sunday, March 23rd.

Goldman Sachs BDC Trading Down 1.0 %

GSBD opened at $10.78 on Monday. The firm has a market cap of $1.26 billion, a P/E ratio of 15.39 and a beta of 0.87. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $11.58 and a 200 day moving average of $12.41. Goldman Sachs BDC has a 12 month low of $9.51 and a 12 month high of $15.94.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Goldman Sachs BDC during the 3rd quarter valued at about $1,101,000. JPMorgan Chase & Co. increased 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 acquiring an additional 153,316 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Goldman Sachs BDC by 143.4% in the fourth quarter. Versant Capital Management Inc now owns 13,331 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 7,854 shares during the period. Capital Market Strategies LLC grew its stake in Goldman Sachs BDC by 18.9% in the fourth quarter. Capital Market Strategies LLC now owns 137,993 shares of the financial services provider’s stock worth $1,670,000 after purchasing an additional 21,968 shares in the last quarter. Finally, Adams Asset Advisors LLC increased its holdings in Goldman Sachs BDC by 41.0% during the 4th quarter. Adams Asset Advisors LLC now owns 262,334 shares of the financial services provider’s stock worth $3,174,000 after purchasing an additional 76,257 shares during the period. 28.72% of the stock is currently owned by institutional investors.

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.