Key Points
- Director James Robo purchased 94,120 KBDC shares at an average price of $13.08, investing approximately $1.23 million and increasing his ownership by 22.36% to 514,961 shares.
- Kayne Anderson BDC reported quarterly EPS of $0.42, beating estimates of $0.40, and declared a quarterly dividend of $0.40 per share, equivalent to a 12.2% annualized yield.
- Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $14.50; the stock recently opened at $13.06, near its 52-week low of $12.88.
Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) Director James Robo purchased 20,841 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost of $13.13 per share, for a total transaction of $273,642.33. Following the purchase, the director directly owned 420,841 shares in the company, valued at approximately $5,525,642.33. This trade represents a 5.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Kayne Anderson BDC Stock Down 0.6%
KBDC stock opened at $13.06 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $862.79 million, a P/E ratio of 11.99 and a beta of 0.32. The business has a 50-day moving average of $13.45 and a 200-day moving average of $13.93. Kayne Anderson BDC, Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $15.87.
Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%.The business had revenue of $19.27 million during the quarter, compared to the consensus estimate of $51.86 million. On average, sell-side analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.
Kayne Anderson BDC Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 12.2%. Kayne Anderson BDC's dividend payout ratio is 146.79%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on KBDC. Royal Bank Of Canada cut their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, August 13th. UBS Group decreased their target price on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, September 1st. Zacks Research lowered shares of Kayne Anderson BDC from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.50.
Get Our Latest Analysis on Kayne Anderson BDC
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of KBDC. Bank of America Corp DE increased its position in shares of Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company's stock worth $76,355,000 after purchasing an additional 143,854 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Kayne Anderson BDC by 101.8% in the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company's stock valued at $1,994,000 after buying an additional 73,322 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company's stock valued at $3,791,000 after buying an additional 44,848 shares during the last quarter. Closed End Fund Advisors Inc. bought a new position in shares of Kayne Anderson BDC in the fourth quarter valued at $1,048,000. Finally, Requisite Capital Management LLC grew its stake in shares of Kayne Anderson BDC by 6.5% in the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company's stock valued at $8,987,000 after buying an additional 39,385 shares in the last quarter.
Kayne Anderson BDC Company Profile
(
Get Free Report)
Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.
Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.
Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.
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