Kayne Anderson BDC (NYSE:KBDC) Director Buys $781,200.00 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo bought 60,000 shares of the business’s stock in a transaction on Monday, September 14th. The stock was purchased at an average price of $13.02 per share, with a total value of $781,200.00. Following the completion of the transaction, the director directly owned 60,000 shares of the company’s stock, valued at $781,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Kayne Anderson BDC Stock Performance

Shares of NYSE KBDC opened at $13.07 on Friday. Kayne Anderson BDC, Inc. has a 1 year low of $12.88 and a 1 year high of $15.87. The firm has a market cap of $863.41 million, a P/E ratio of 11.99 and a beta of 0.32. The stock has a fifty day moving average price of $13.49 and a two-hundred day moving average price of $13.94. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25.

Kayne Anderson BDC (NYSE:KBDC) last posted 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 return on equity of 10.63% and a net margin of 31.54%.The company had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. Research analysts forecast that Kayne Anderson BDC, Inc. will post 1.61 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 given a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 12.2%. Kayne Anderson BDC’s payout ratio is 146.79%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake 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 worth $76,355,000 after acquiring an additional 143,854 shares during the last quarter. Renaissance Technologies LLC boosted its position in 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 purchasing an additional 73,322 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in Kayne Anderson BDC during the fourth quarter valued at $1,048,000. Sei Investments Co. purchased a new position in Kayne Anderson BDC in the first quarter valued at about $730,000. Finally, HB Wealth Management LLC grew its stake in Kayne Anderson BDC by 19.1% in the second 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.

Analysts Set New Price Targets

KBDC has been the subject of several research reports. UBS Group reduced their price objective on shares of 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. Royal Bank Of Canada cut their target price on shares of 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. Zacks Research cut shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Kayne Anderson BDC currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Kayne Anderson BDC Company Profile

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.