Kayne Anderson BDC (NYSE:KBDC) Posts Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Kayne Anderson BDC (NYSE:KBDC) released its earnings results on Monday. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24), FiscalAI reports. Kayne Anderson BDC had a return on equity of 10.47% and a net margin of 37.30%.The business had revenue of $19.27 million for the quarter, compared to analyst estimates of $51.86 million.

Kayne Anderson BDC Price Performance

Shares of KBDC stock remained flat at $14.12 on Monday. 725,565 shares of the stock were exchanged, compared to its average volume of 328,069. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04. The firm has a 50 day simple moving average of $13.85 and a 200-day simple moving average of $14.09. The stock has a market capitalization of $936.86 million, a P/E ratio of 11.03 and a beta of 0.31. Kayne Anderson BDC has a one year low of $13.06 and a one year high of $15.87.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KBDC shares. UBS Group boosted their price target on Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Wells Fargo & Company reaffirmed 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Kayne Anderson BDC currently has an average rating of “Moderate Buy” and an average target price of $15.12.

Institutional Inflows and Outflows

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

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.