Key Points
- Insider purchase: Director George Marucci, Jr. bought 9,000 shares at an average price of $13.74 on March 6, a $123,660 transaction that raised his holding to 10,000 shares (a 900% increase) as disclosed in an SEC filing.
- High dividend: KBDC announced a $0.40 quarterly dividend (annualized $1.60), implying an ~11.6% yield with an ex-dividend date of March 31 and a payout ratio of 120.3%, signaling a rich but potentially unsustainable payout.
- Mixed fundamentals and analyst view: The company reported a quarter with EPS of $0.44 beating estimates, while analysts have trimmed price targets (average target ~$15.13) and maintain a consensus of Moderate Buy.
Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) Director George Marucci, Jr. bought 9,000 shares of the business's stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of $13.74 per share, for a total transaction of $123,660.00. Following the completion of the purchase, the director owned 10,000 shares of the company's stock, valued at approximately $137,400. The trade was a 900.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Kayne Anderson BDC Price Performance
KBDC opened at $13.80 on Tuesday. The stock has a 50-day moving average price of $14.22 and a 200-day moving average price of $14.46. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $924.59 million, a PE ratio of 10.38 and a beta of 0.24. Kayne Anderson BDC, Inc. has a 1 year low of $13.06 and a 1 year high of $16.98.
Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.03. Kayne Anderson BDC had a net margin of 39.74% and a return on equity of 10.23%. The company had revenue of ($25.53) million for the quarter, compared to analysts' expectations of $56.48 million. Sell-side analysts predict that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current fiscal year.
Kayne Anderson BDC Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Tuesday, March 31st. Kayne Anderson BDC's dividend payout ratio is currently 120.30%.
Analysts Set New Price Targets
KBDC has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on shares of Kayne Anderson BDC from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods lowered their price objective on Kayne Anderson BDC from $16.00 to $15.50 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Finally, Royal Bank Of Canada cut their target price on Kayne Anderson BDC from $17.00 to $16.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Kayne Anderson BDC has an average rating of "Moderate Buy" and an average target price of $15.13.
Check Out Our Latest Stock Analysis on Kayne Anderson BDC
Hedge Funds Weigh In On Kayne Anderson BDC
Several hedge funds and other institutional investors have recently bought and sold shares of KBDC. Security National Bank lifted its stake in Kayne Anderson BDC by 205.4% during the 3rd quarter. Security National Bank now owns 5,057 shares of the company's stock valued at $67,000 after acquiring an additional 3,401 shares during the period. Advisory Services Network LLC grew its stake in shares of Kayne Anderson BDC by 16.0% in the fourth quarter. Advisory Services Network LLC now owns 10,206 shares of the company's stock worth $146,000 after acquiring an additional 1,407 shares during the period. Brevan Howard Capital Management LP purchased a new position in shares of Kayne Anderson BDC during the third quarter valued at approximately $156,000. Osaic Holdings Inc. raised its holdings in shares of Kayne Anderson BDC by 70.9% during the second quarter. Osaic Holdings Inc. now owns 10,268 shares of the company's stock valued at $157,000 after purchasing an additional 4,261 shares during the last quarter. Finally, Centiva Capital LP bought a new position in Kayne Anderson BDC during the third quarter valued at approximately $172,000.
About Kayne Anderson BDC
(
Get Free Report)
Kayne Anderson BDC, Inc (NYSE: KBDC) is a closed-end, non-diversified management investment company structured as a business development company under the Investment Company Act of 1940. The firm focuses on providing bespoke financing solutions to U.S. middle-market companies, offering first-lien and second-lien secured loans, unitranche facilities, mezzanine debt and selected equity co-investments. KBDC targets businesses with EBITDA profiles generally ranging from $10 million to $100 million, aiming to generate attractive income and potential capital appreciation for shareholders.
The company's portfolio spans a variety of sectors, including healthcare, technology, energy services, consumer products and industrials.
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