Callodine Capital Management LP Sells 108,259 Shares of Kayne Anderson BDC, Inc. $KBDC

Callodine Capital Management LP cut its position in Kayne Anderson BDC, Inc. (NYSE:KBDC) by 27.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,741 shares of the company’s stock after selling 108,259 shares during the period. Callodine Capital Management LP’s holdings in Kayne Anderson BDC were worth $4,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KBDC. Advisory Services Network LLC raised its stake in Kayne Anderson BDC by 16.0% during the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock worth $146,000 after buying an additional 1,407 shares during the period. BNP Paribas Financial Markets grew its stake 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 valued at $230,000 after acquiring an additional 2,203 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Kayne Anderson BDC by 70.9% during the second quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock valued at $157,000 after acquiring an additional 4,261 shares in the last quarter. Global View Capital Management LLC raised its position in shares of Kayne Anderson BDC by 50.0% during the second 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. raised its position in shares of Kayne Anderson BDC by 15.1% during the second 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.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KBDC shares. UBS Group increased 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 restated an “equal weight” rating and set a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.12.

Kayne Anderson BDC Price Performance

Shares of NYSE KBDC opened at $13.46 on Friday. The stock has a market cap of $893.14 million, a price-to-earnings ratio of 10.52 and a beta of 0.30. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15. Kayne Anderson BDC, Inc. has a fifty-two week low of $13.06 and a fifty-two week high of $16.06. The firm’s 50-day simple moving average is $14.06 and its 200 day simple moving average is $14.17.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.43 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.62 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 11.9%. Kayne Anderson BDC’s payout ratio is presently 125.00%.

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.