Kayne Anderson BDC (NYSE:KBDC) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Kayne Anderson BDC, Inc. (NYSE:KBDC)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $12.94 and traded as high as $13.10. Kayne Anderson BDC shares last traded at $13.0550, with a volume of 210,846 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on KBDC. Zacks Research upgraded Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. UBS Group reduced their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Finally, Royal Bank Of Canada decreased their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kayne Anderson BDC has a consensus rating of “Hold” and an average target price of $14.50.

Kayne Anderson BDC Price Performance

The firm has a market cap of $862.13 million, a P/E ratio of 11.98 and a beta of 0.34. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50 day moving average is $12.94 and its 200 day moving average is $13.79.

Kayne Anderson BDC (NYSE:KBDC) last released 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. The firm had revenue of $55.70 million during the quarter, compared to analyst estimates of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. As a group, analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend was Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is 146.79%.

Insider Buying and Selling

In related news, Director James Robo bought 146,755 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director owned 766,716 shares in the company, valued at approximately $9,990,309.48. The trade was a 23.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 766,716 shares of company stock valued at $10,002,000 over the last 90 days. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Kayne Anderson BDC

Several large investors have recently modified their holdings of KBDC. Bank of America Corp DE increased its stake in Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock valued at $76,355,000 after purchasing an additional 143,854 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Kayne Anderson BDC by 101.8% in the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock worth $1,994,000 after buying an additional 73,322 shares during the last quarter. Sei Investments Co. purchased a new position in Kayne Anderson BDC in the first quarter worth about $730,000. HB Wealth Management LLC lifted its stake in shares of Kayne Anderson BDC by 19.1% in the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after buying an additional 44,848 shares in the last quarter. Finally, Requisite Capital Management LLC lifted its stake in shares of Kayne Anderson BDC by 6.5% in the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock worth $8,987,000 after buying an additional 39,385 shares in the last quarter.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc is a business development company that invests in privately held, middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

Its investment activities primarily consist of loans and other debt investments, including senior secured, unitranche and subordinated debt. Kayne Anderson BDC may also make equity and equity-related investments in portfolio companies.