Kayne Anderson BDC (NYSE:KBDC) Director James Robo Buys 60,000 Shares

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo purchased 60,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $13.02 per share, with a total value of $781,200.00. Following the acquisition, the director directly owned 60,000 shares in the company, valued at $781,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Kayne Anderson BDC Stock Performance

Shares of Kayne Anderson BDC stock opened at $13.07 on Thursday. The company has a market capitalization of $862.88 million, a PE ratio of 11.99 and a beta of 0.32. Kayne Anderson BDC, Inc. has a 12 month low of $12.88 and a 12 month high of $15.87. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. The stock’s fifty day simple moving average is $13.51 and its 200 day simple moving average is $13.95.

Kayne Anderson BDC (NYSE:KBDC) last posted its earnings results on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping 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, research analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is 146.79%.

Institutional Trading of Kayne Anderson BDC

Several hedge funds and other institutional investors have recently modified their holdings of KBDC. Baird Financial Group Inc. acquired a new position in shares of Kayne Anderson BDC during the second quarter worth about $147,000. Sovereign Financial Group Inc. acquired a new stake in Kayne Anderson BDC in the 1st quarter valued at approximately $155,000. Platt Wealth Management LLC bought a new stake in Kayne Anderson BDC in the 4th quarter valued at approximately $175,000. MQS Management LLC bought a new stake in Kayne Anderson BDC in the 1st quarter valued at approximately $204,000. Finally, Squarepoint Ops LLC boosted its position in Kayne Anderson BDC by 126.1% during the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after acquiring an additional 12,663 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. 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. Royal Bank Of Canada reduced their price target on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Finally, UBS Group lowered their price objective 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. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.50.

About Kayne Anderson BDC

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.