Zacks Research Downgrades Kayne Anderson BDC (NYSE:KBDC) to Strong Sell

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

Several other research analysts have also recently weighed in on KBDC. UBS Group upped their price objective on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. Finally, Royal Bank Of Canada cut 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 research note on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.88.

Kayne Anderson BDC Price Performance

Shares of NYSE KBDC opened at $13.24 on Tuesday. The firm has a market capitalization of $874.70 million, a P/E ratio of 12.15 and a beta of 0.31. 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’s 50-day simple moving average is $13.71 and its two-hundred day simple moving average is $14.05. Kayne Anderson BDC has a twelve month low of $13.06 and a twelve month high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $19.27 million during the quarter, compared to the consensus estimate of $51.86 million. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%. As a group, equities analysts anticipate that Kayne Anderson BDC will post 1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Kayne Anderson BDC

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC boosted its holdings in Kayne Anderson BDC by 16.0% during the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock valued at $146,000 after acquiring an additional 1,407 shares during the period. Osaic Holdings Inc. increased its stake in Kayne Anderson BDC by 70.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after purchasing an additional 4,261 shares during the period. Acadian Asset Management LLC increased its stake in Kayne Anderson BDC by 341.2% in the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock worth $173,000 after purchasing an additional 8,343 shares during the period. Sovereign Financial Group Inc. bought a new stake in Kayne Anderson BDC in the first quarter valued at approximately $155,000. Finally, Brevan Howard Capital Management LP bought a new stake in Kayne Anderson BDC in the third quarter valued at approximately $156,000.

Kayne Anderson BDC Company Profile

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.