Kayne Anderson BDC (NYSE:KBDC) Stock Lifted to Hold by Zacks Research

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

Several other research analysts also recently commented on KBDC. 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 reduced 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 and three have assigned a Hold rating to the stock. According to MarketBeat, Kayne Anderson BDC currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Kayne Anderson BDC Trading Down 0.6%

Kayne Anderson BDC stock opened at $12.38 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25. The business’s 50-day simple moving average is $13.17 and its 200-day simple moving average is $13.81. The firm has a market capitalization of $817.25 million, a PE ratio of 11.35 and a beta of 0.34. Kayne Anderson BDC has a 52 week low of $12.32 and a 52 week high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings data 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 return on equity of 10.63% and a net margin of 31.54%. The business had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $51.86 million. Equities research analysts forecast that Kayne Anderson BDC will post 1.61 earnings per share for the current year.

Insider Buying and Selling at Kayne Anderson BDC

In other news, Director James Robo acquired 146,755 shares of the stock in a transaction dated Monday, September 28th. The shares were acquired at an average cost of $13.03 per share, for a total transaction of $1,912,217.65. Following the completion of the transaction, the director owned 766,716 shares in the company, valued at approximately $9,990,309.48. This trade represents a 23.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 766,716 shares of company stock worth $10,002,000. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

Institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC raised its position in Kayne Anderson BDC by 2.8% in the third quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock worth $966,000 after purchasing an additional 2,077 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Kayne Anderson BDC in the 2nd quarter valued at approximately $147,000. Sovereign Financial Group Inc. bought a new stake in shares of Kayne Anderson BDC in the 1st quarter worth about $155,000. Squarepoint Ops LLC grew its holdings in shares of 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 during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Kayne Anderson BDC in the 1st quarter worth about $204,000.

About Kayne Anderson BDC

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.