Kayne Anderson BDC (NYSE:KBDC) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Kayne Anderson BDC (NYSE:KBDC) had its target price trimmed by Keefe, Bruyette & Woods from $15.00 to $14.50 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued research reports about the company. Zacks Research raised Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Royal Bank Of Canada cut their target price on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. UBS Group reduced their target price on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company reduced their target price on Kayne Anderson BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Kayne Anderson BDC currently has a consensus rating of “Hold” and a consensus price target of $13.75.

Kayne Anderson BDC Stock Up 0.0%

NYSE KBDC opened at $12.96 on Monday. Kayne Anderson BDC has a twelve month low of $12.14 and a twelve month high of $15.87. The stock has a market cap of $853.16 million, a PE ratio of 15.43 and a beta of 0.32. The firm has a 50-day simple moving average of $12.85 and a 200 day simple moving average of $13.72. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.25 and a current ratio of 1.12.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The firm had revenue of $58.96 million for the quarter, compared to analyst estimates of $57.35 million. Kayne Anderson BDC had a return on equity of 10.90% and a net margin of 24.17%. On average, research analysts forecast that Kayne Anderson BDC will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 19th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend is Thursday, December 31st. Kayne Anderson BDC’s payout ratio is presently 190.48%.

Insiders Place Their Bets

In related news, Director James Robo acquired 146,755 shares of the stock in a transaction dated Monday, September 28th. The shares were bought at an average cost of $13.03 per share, for a total transaction of $1,912,217.65. Following the purchase, the director owned 766,716 shares in the company, valued at approximately $9,990,309.48. This trade represents a 23.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 766,716 shares of company stock worth $10,002,000 over the last 90 days. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Kayne Anderson BDC

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in Kayne Anderson BDC by 2.7% in the 1st 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. Renaissance Technologies LLC lifted its holdings in shares of Kayne Anderson BDC by 101.8% during the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after acquiring an additional 73,322 shares during the period. Sei Investments Co. bought a new position in shares of Kayne Anderson BDC during the first quarter valued at $730,000. HB Wealth Management LLC boosted its stake 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 valued at $3,791,000 after purchasing an additional 44,848 shares in the last quarter. Finally, Requisite Capital Management LLC boosted its stake in shares of Kayne Anderson BDC by 6.5% in the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock valued at $8,987,000 after purchasing an additional 39,385 shares in the last quarter.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc. is a business development company that provides financing to middle-market businesses, primarily in the United States. Its investment strategy focuses on privately held companies and aims to generate income and long-term capital appreciation through private credit investments. The company primarily makes senior secured loans, including first-lien and unitranche loans, and may also invest in other forms of debt and equity. Its investment adviser is KA Credit Advisors, an affiliate of Kayne Anderson Capital Advisors, which manages the company’s investment activities.