Zacks Research Upgrades Kayne Anderson BDC (NYSE:KBDC) to “Hold”

Kayne Anderson BDC (NYSE:KBDC) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

A number of other research analysts have also recently commented on the company. Royal Bank Of Canada dropped their price target on 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 price objective on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kayne Anderson BDC has a consensus rating of “Hold” and a consensus target price of $14.50.

Kayne Anderson BDC Stock Down 0.6%

KBDC opened at $12.38 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. The stock has a market cap of $817.22 million, a price-to-earnings ratio of 11.35 and a beta of 0.34. The company’s 50-day moving average price is $13.17 and its two-hundred day moving average price is $13.81. Kayne Anderson BDC has a twelve month low of $12.32 and a twelve month high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.42 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 business had revenue of $55.70 million for the quarter, compared to the consensus estimate of $51.86 million. As a group, equities analysts expect that Kayne Anderson BDC will post 1.61 earnings per share for the current year.

Insider Activity at Kayne Anderson BDC

In related news, Director James Robo purchased 340,000 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, September 16th. The stock was bought at an average cost of $13.04 per share, for a total transaction of $4,433,600.00. Following the completion of the transaction, the director owned 400,000 shares in the company, valued at $5,216,000. This trade represents a 566.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 766,716 shares of company stock valued at $10,002,000 over the last three months. 2.90% of the stock is owned by company insiders.

Institutional Trading of Kayne Anderson BDC

A number of institutional investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC grew its stake in Kayne Anderson BDC by 2.8% during the third quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock valued at $966,000 after acquiring an additional 2,077 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Kayne Anderson BDC during the 2nd quarter worth approximately $147,000. Sovereign Financial Group Inc. purchased a new stake in Kayne Anderson BDC in the 1st quarter worth approximately $155,000. Squarepoint Ops LLC lifted its stake in Kayne Anderson BDC by 126.1% in the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after purchasing an additional 12,663 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in Kayne Anderson BDC in the 1st quarter worth approximately $204,000.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc is a business development company that provides financing to privately held U.S. middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing in the debt and equity securities of companies that may have limited access to traditional financing.

Its investment activities primarily include providing secured loans and other forms of credit, along with potential investments in subordinated debt, preferred equity and common equity.