Kayne Anderson BDC (NYSE:KBDC) Announces Earnings Results, Misses Estimates By $0.24 EPS

Kayne Anderson BDC (NYSE:KBDC) posted its earnings results on Monday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24), FiscalAI reports. The firm had revenue of $19.27 million during the quarter, compared to analyst estimates of $51.86 million. Kayne Anderson BDC had a net margin of 37.30% and a return on equity of 10.47%.

Kayne Anderson BDC Price Performance

KBDC stock remained flat at $14.12 on Monday. 725,565 shares of the company were exchanged, compared to its average volume of 328,069. Kayne Anderson BDC has a fifty-two week low of $13.06 and a fifty-two week high of $15.87. The company has a 50 day simple moving average of $13.85 and a two-hundred day simple moving average of $14.09. The stock has a market capitalization of $936.86 million, a price-to-earnings ratio of 11.03 and a beta of 0.31. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.04.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KBDC. Wells Fargo & Company restated an “equal weight” rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. UBS Group boosted their price objective on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.12.

Institutional Trading of Kayne Anderson BDC

Several hedge funds and other institutional investors have recently bought and sold shares of KBDC. Koch Inc. bought a new stake in shares of Kayne Anderson BDC during the second quarter valued at approximately $185,887,000. Bank of America Corp DE raised its stake in shares of Kayne Anderson BDC by 180.1% in the second quarter. Bank of America Corp DE now owns 4,596,731 shares of the company’s stock valued at $70,146,000 after purchasing an additional 2,955,661 shares in the last quarter. Pathstone Holdings LLC raised its stake in shares of Kayne Anderson BDC by 612.8% in the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock valued at $19,261,000 after purchasing an additional 1,243,181 shares in the last quarter. Van ECK Associates Corp bought a new position in Kayne Anderson BDC in the fourth quarter worth $11,804,000. Finally, Franklin Resources Inc. raised its stake in shares of Kayne Anderson BDC by 102.7% in the 4th 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 in the last quarter.

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.