Kayne Anderson BDC (NYSE:KBDC) Releases Earnings Results, Beats Estimates By $0.02 EPS

Kayne Anderson BDC (NYSE:KBDC) issued its quarterly earnings results on Monday. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02, Zacks reports. Kayne Anderson BDC had a return on equity of 10.23% and a net margin of 39.74%.The firm had revenue of $24.86 million for the quarter, compared to analyst estimates of $52.40 million.

Kayne Anderson BDC Price Performance

KBDC opened at $14.89 on Tuesday. Kayne Anderson BDC has a fifty-two week low of $13.06 and a fifty-two week high of $16.40. The firm has a market cap of $989.14 million, a price-to-earnings ratio of 11.23 and a beta of 0.28. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $14.14 and its 200 day moving average price is $14.43.

Kayne Anderson BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be given a $0.40 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 10.7%. Kayne Anderson BDC’s dividend payout ratio (DPR) is presently 120.30%.

Insider Buying and Selling at Kayne Anderson BDC

In other news, Director George E. Marucci, Jr. bought 9,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $13.74 per share, for a total transaction of $123,660.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately $137,400. This trade represents a 900.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Kayne Anderson BDC during the 4th quarter valued at $336,000. XTX Topco Ltd purchased a new stake in shares of Kayne Anderson BDC in the 4th quarter valued at approximately $1,290,000. VARCOV Co. purchased a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at $259,000. Quadrature Capital Ltd boosted its position in shares of Kayne Anderson BDC by 41.1% in the fourth quarter. Quadrature Capital Ltd now owns 31,976 shares of the company’s stock worth $458,000 after buying an additional 9,317 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Kayne Anderson BDC by 206.3% in the fourth quarter. Millennium Management LLC now owns 254,429 shares of the company’s stock worth $3,643,000 after buying an additional 171,354 shares during the period.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on Kayne Anderson BDC from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Keefe, Bruyette & Woods cut their price target on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, UBS Group lifted their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.13.

About Kayne Anderson BDC

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.