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Insiders Now Seeing Red With GSBD At New 52-Week Low

By Market News Video Staff, Monday, February 5, 4:10 PM ET
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In trading on Monday, shares of Goldman Sachs BDC Inc (NYSE:GSBD) touched a new 52-week low of $20.15/share. That's a $5.45 share price drop, or -21.29% decline from the 52-week high of $25.60 set back on 03/20/2017. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for GSBD that means the stock would have to gain 27.05% to get back to the 52-week high. For a move like that, Goldman Sachs BDC Inc would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as GSBD shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, GSBD has seen 2 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
12/01/2017 Jaime Ardila Director 8,108 $21.84 $177,112.77
12/06/2017 Ann B. Lane Director 4,650 $21.68 $100,816.65
12/06/2017 Jaime Ardila Director 1,059 $21.65 $22,932.12

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where GSBD has traded over the past year, with the 50-day and 200-day moving averages included.

Goldman Sachs BDC Inc Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for GSBD shares, which are presently showing a last trade of $20.59/share, slightly above the new 52-week low.

This Article's Word Cloud:   Ardila   Bargains   Cheaper   Director   GSBD   Goldman   Here   Insider   Insiders   Jaime   Lane   Large   Monday   NYSE   Oftentimes   Price   Purchased   Sachs   Share   Shares   Start   Than   That   Time   Title   Value   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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