Kayne Anderson BDC (NYSE:KBDC) Director Purchases 146,755 Shares of Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo acquired 146,755 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were acquired at an average cost of $13.03 per share, with a total value of $1,912,217.65. Following the acquisition, the director directly owned 766,716 shares of the company’s stock, valued at $9,990,309.48. This represents a 23.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kayne Anderson BDC Price Performance

Shares of KBDC stock traded down $0.48 during trading on Wednesday, hitting $12.59. The company had a trading volume of 349,512 shares, compared to its average volume of 339,957. The stock’s 50-day moving average is $13.40 and its two-hundred day moving average is $13.91. The stock has a market capitalization of $831.09 million, a price-to-earnings ratio of 11.55 and a beta of 0.32. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. Kayne Anderson BDC, Inc. has a 52 week low of $12.56 and a 52 week high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last announced its earnings results on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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 business had revenue of $19.27 million during the quarter, compared to analyst estimates of $51.86 million. As a group, analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is currently 146.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group lowered their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. 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 research report on Friday, June 12th. Royal Bank Of Canada decreased their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Finally, Zacks Research downgraded Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. 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. Based on data from MarketBeat, Kayne Anderson BDC has an average rating of “Hold” and an average price target of $14.50.

Hedge Funds Weigh In On Kayne Anderson BDC

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Kayne Anderson BDC by 2.7% in the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after purchasing an additional 143,854 shares during the last quarter. Requisite Capital Management LLC boosted its position in Kayne Anderson BDC by 6.5% during the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock valued at $8,987,000 after buying an additional 39,385 shares during the period. HB Wealth Management LLC grew its stake in shares of Kayne Anderson BDC by 19.1% during the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after buying an additional 44,848 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Kayne Anderson BDC by 101.8% during the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after buying an additional 73,322 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Kayne Anderson BDC by 46.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company’s stock worth $1,350,000 after buying an additional 31,444 shares during the period.

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.