Kayne Anderson BDC (NYSE:KBDC) Sets New 12-Month Low – Here’s What Happened

Kayne Anderson BDC, Inc. (NYSE:KBDC) reached a new 52-week low during trading on Wednesday. The stock traded as low as $12.42 and last traded at $12.4250, with a volume of 46762 shares traded. The stock had previously closed at $12.70.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada reduced 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. Wells Fargo & Company reiterated an “equal weight” rating and set a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Finally, UBS Group lowered their price objective on 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 issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

Kayne Anderson BDC Stock Up 0.8%

The stock has a market capitalization of $825.17 million, a PE ratio of 11.46 and a beta of 0.34. 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 company’s 50-day moving average is $13.27 and its 200 day moving average is $13.85.

Kayne Anderson BDC (NYSE:KBDC) last released 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 net margin of 31.54% and a return on equity of 10.63%. The company had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. As a group, analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.8%. Kayne Anderson BDC’s payout ratio is 146.79%.

Insider Buying and Selling at Kayne Anderson BDC

In other news, Director James Robo bought 146,755 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average cost of $13.03 per share, with a total value of $1,912,217.65. Following the transaction, the director directly owned 766,716 shares in the company, valued at approximately $9,990,309.48. The trade was a 23.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 766,716 shares of company stock worth $10,002,000 over the last 90 days. 2.90% of the stock is owned by insiders.

Institutional Trading of Kayne Anderson BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new stake in Kayne Anderson BDC during the 2nd quarter valued at about $147,000. Sovereign Financial Group Inc. purchased a new position in shares of Kayne Anderson BDC in the first quarter worth about $155,000. MQS Management LLC acquired a new stake in shares of Kayne Anderson BDC during the first quarter worth about $204,000. Squarepoint Ops LLC boosted its position in Kayne Anderson BDC by 126.1% in the second quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock valued at $307,000 after buying an additional 12,663 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in Kayne Anderson BDC in the first quarter valued at approximately $730,000.

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.