Kayne Anderson BDC (NYSE:KBDC) Director Acquires $273,642.33 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo bought 20,841 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was purchased at an average price of $13.13 per share, with a total value of $273,642.33. Following the completion of the purchase, the director directly owned 420,841 shares in the company, valued at $5,525,642.33. The trade was a 5.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kayne Anderson BDC Price Performance

Shares of NYSE KBDC opened at $13.04 on Friday. The business’s 50 day moving average price is $13.42 and its two-hundred day moving average price is $13.92. The company has a market cap of $860.83 million, a PE ratio of 11.96 and a beta of 0.32. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. Kayne Anderson BDC, Inc. has a twelve month low of $12.88 and a twelve month high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $19.27 million for the quarter, compared to analyst estimates of $51.86 million. On average, analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 12.3%. Kayne Anderson BDC’s payout ratio is presently 146.79%.

Analysts Set New Price Targets

Several research firms have weighed in on KBDC. UBS Group lowered their price target on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Royal Bank Of Canada reduced their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Finally, Zacks Research lowered Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Institutional Trading of Kayne Anderson BDC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew 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 in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Kayne Anderson BDC by 101.8% during the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock worth $1,994,000 after purchasing an additional 73,322 shares during the period. HB Wealth Management LLC raised its position in shares of Kayne Anderson BDC by 19.1% in the second 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 in the last quarter. Closed End Fund Advisors Inc. acquired a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at approximately $1,048,000. Finally, Requisite Capital Management LLC boosted 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 during the period.

Kayne Anderson BDC Company Profile

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.