Kayne Anderson BDC (NYSE:KBDC) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Kayne Anderson BDC (NYSE:KBDC) released its earnings results on Monday. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03, Zacks reports. Kayne Anderson BDC had a net margin of 39.74% and a return on equity of 10.13%. The firm had revenue of ($25.53) million during the quarter, compared to analyst estimates of $56.48 million.

Kayne Anderson BDC Stock Performance

Kayne Anderson BDC stock opened at $13.88 on Wednesday. The company has a 50 day moving average price of $14.29 and a 200-day moving average price of $14.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.46 and a current ratio of 1.46. Kayne Anderson BDC has a fifty-two week low of $13.06 and a fifty-two week high of $17.00. The company has a market capitalization of $949.39 million, a PE ratio of 10.44 and a beta of 0.23.

Kayne Anderson BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.5%. Kayne Anderson BDC’s dividend payout ratio (DPR) is 105.96%.

Analyst Ratings Changes

A number of research firms recently weighed in on KBDC. Royal Bank Of Canada reduced their price objective on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Wells Fargo & Company reduced their price target on Kayne Anderson BDC from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods decreased their price target on Kayne Anderson BDC from $16.50 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new stake in shares of Kayne Anderson BDC in the 4th quarter worth $3,216,000. Verition Fund Management LLC purchased a new position in Kayne Anderson BDC during the 4th quarter valued at about $747,000. Birchview Capital LP bought a new stake in shares of Kayne Anderson BDC in the 4th quarter valued at about $286,000. Wells Fargo & Company MN raised its holdings in shares of Kayne Anderson BDC by 148.7% in the 4th quarter. Wells Fargo & Company MN now owns 197,793 shares of the company’s stock valued at $2,832,000 after purchasing an additional 118,255 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Kayne Anderson BDC by 102.7% during the fourth quarter. Franklin Resources Inc. now owns 624,638 shares of the company’s stock valued at $8,945,000 after buying an additional 316,418 shares during the period.

About Kayne Anderson BDC

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.