Kayne Anderson BDC (NYSE:KBDC) Reaches New 52-Week Low – Here’s What Happened

Kayne Anderson BDC, Inc. (NYSE:KBDC)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $12.65 and last traded at $12.75, with a volume of 37753 shares trading hands. The stock had previously closed at $13.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group decreased their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Royal Bank Of Canada dropped their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Wells Fargo & Company restated 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. Finally, Zacks Research downgraded shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kayne Anderson BDC currently has a consensus rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Price Performance

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s fifty day moving average price is $13.40 and its 200-day moving average price is $13.91. The firm has a market cap of $836.70 million, a PE ratio of 11.62 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings data on Monday, August 10th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The firm had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. As a group, equities analysts forecast that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio (DPR) is presently 146.79%.

Insider Activity at Kayne Anderson BDC

In other news, Director James Robo purchased 105,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were acquired at an average price of $13.05 per share, for a total transaction of $1,370,250.00. Following the acquisition, the director directly owned 619,961 shares in the company, valued at approximately $8,090,491.05. The trade was a 20.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 619,961 shares of company stock worth $8,089,782. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of Kayne Anderson BDC by 2.7% in the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock valued at $76,355,000 after buying an additional 143,854 shares in the last quarter. Requisite Capital Management LLC raised its stake in shares of Kayne Anderson BDC by 6.5% during the 2nd 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 during the last quarter. HB Wealth Management LLC boosted its position in shares of Kayne Anderson BDC by 19.1% in the 2nd 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. Renaissance Technologies LLC boosted its position in shares of Kayne Anderson BDC by 101.8% in the 1st 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 in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Kayne Anderson BDC by 46.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company’s stock valued at $1,350,000 after acquiring an additional 31,444 shares during the last quarter.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.