Kayne Anderson BDC (NYSE:KBDC) Shares Gap Down – Here’s What Happened

Kayne Anderson BDC, Inc. (NYSE:KBDC) gapped down before the market opened on Tuesday . The stock had previously closed at $13.97, but opened at $13.40. Kayne Anderson BDC shares last traded at $13.7950, with a volume of 61,208 shares.

Wall Street Analysts Forecast Growth

KBDC has been the topic of several recent analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. UBS Group upped their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.12.

Kayne Anderson BDC Trading Down 1.2%

The company has a market capitalization of $897.48 million, a price-to-earnings ratio of 12.47 and a beta of 0.31. The business has a fifty day moving average price of $13.81 and a 200 day moving average price of $14.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.15 and a quick ratio of 1.15.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $19.27 million for the quarter, compared to analysts’ expectations of $51.86 million. Kayne Anderson BDC had a return on equity of 10.51% and a net margin of 31.54%. On average, equities analysts expect that Kayne Anderson BDC, Inc. will post 1.62 EPS for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is 146.79%.

Hedge Funds Weigh In On Kayne Anderson BDC

A number of hedge funds have recently made changes to their positions in KBDC. Advisory Services Network LLC boosted its position in shares of Kayne Anderson BDC by 16.0% during the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock valued at $146,000 after acquiring an additional 1,407 shares in the last quarter. Osaic Holdings Inc. raised its position in Kayne Anderson BDC by 70.9% in the second quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after purchasing an additional 4,261 shares in the last quarter. Acadian Asset Management LLC raised its position in Kayne Anderson BDC by 341.2% in the first quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock worth $173,000 after purchasing an additional 8,343 shares in the last quarter. Sovereign Financial Group Inc. bought a new position in Kayne Anderson BDC during the first quarter worth about $155,000. Finally, Brevan Howard Capital Management LP bought a new position in Kayne Anderson BDC during the third quarter worth about $156,000.

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.