SlateStone Wealth LLC Cuts Holdings in Kayne Anderson BDC, Inc. $KBDC

SlateStone Wealth LLC decreased its position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) by 36.9% in the fourth quarter, HoldingsChannel reports. The firm owned 94,644 shares of the company’s stock after selling 55,329 shares during the quarter. SlateStone Wealth LLC’s holdings in Kayne Anderson BDC were worth $1,355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in Kayne Anderson BDC by 14.6% in the third quarter. BNP Paribas Financial Markets now owns 17,265 shares of the company’s stock worth $230,000 after acquiring an additional 2,203 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of 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. Zuckerman Investment Group LLC boosted its holdings in shares of Kayne Anderson BDC by 16.7% in the 3rd quarter. Zuckerman Investment Group LLC now owns 35,000 shares of the company’s stock worth $466,000 after purchasing an additional 5,000 shares during the period. Global View Capital Management LLC boosted its holdings in shares of Kayne Anderson BDC by 50.0% in the 2nd quarter. Global View Capital Management LLC now owns 15,468 shares of the company’s stock worth $236,000 after purchasing an additional 5,156 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Kayne Anderson BDC by 15.1% in the 2nd quarter. Invesco Ltd. now owns 45,063 shares of the company’s stock worth $688,000 after purchasing an additional 5,916 shares during the period.

Kayne Anderson BDC Stock Down 1.4%

Shares of NYSE KBDC opened at $14.33 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market capitalization of $950.80 million, a price-to-earnings ratio of 11.20 and a beta of 0.25. The stock has a 50 day moving average price of $14.47 and a 200 day moving average price of $14.47. Kayne Anderson BDC, Inc. has a 52-week low of $13.06 and a 52-week high of $16.28.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $24.86 million during the quarter, compared to analyst estimates of $52.40 million. Kayne Anderson BDC had a return on equity of 10.47% and a net margin of 37.30%. Sell-side analysts expect that Kayne Anderson BDC, Inc. will post 1.62 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.2%. Kayne Anderson BDC’s payout ratio is presently 125.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KBDC shares. UBS Group lifted their target price on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Wells Fargo & Company lifted their target price on Kayne Anderson BDC from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods dropped their target price on Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

Kayne Anderson BDC 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.