Insider Buying: Kayne Anderson BDC (NYSE:KBDC) Director Purchases $1,370,250.00 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo purchased 105,000 shares of the company’s stock in a transaction on Thursday, September 24th. The stock was purchased at an average price of $13.05 per share, with a total value of $1,370,250.00. Following the completion of the transaction, the director owned 619,961 shares of the company’s stock, valued at approximately $8,090,491.05. This trade represents a 20.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kayne Anderson BDC Stock Performance

Shares of NYSE KBDC opened at $13.04 on Monday. Kayne Anderson BDC, Inc. has a 1 year low of $12.88 and a 1 year high of $15.87. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $860.83 million, a PE ratio of 11.96 and a beta of 0.32. The firm has a fifty day moving average price of $13.42 and a 200-day moving average price of $13.92.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.42 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 10.63% and a net margin of 31.54%. Equities analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 12.3%. Kayne Anderson BDC’s dividend payout ratio (DPR) is presently 146.79%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KBDC. Royal Bank Of Canada dropped 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 report on Thursday, August 13th. Zacks Research downgraded shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. Finally, UBS Group dropped 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 report on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kayne Anderson BDC currently has a consensus rating of “Hold” and an average target price of $14.50.

Institutional Trading of Kayne Anderson BDC

Several hedge funds have recently modified their holdings of KBDC. Bank of America Corp DE raised its stake in Kayne Anderson BDC by 2.7% during 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 purchasing an additional 143,854 shares in the last quarter. Renaissance Technologies LLC grew its stake 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. HB Wealth Management LLC increased its holdings 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 during the last quarter. Closed End Fund Advisors Inc. bought a new stake in shares of Kayne Anderson BDC in the 4th quarter worth about $1,048,000. Finally, Requisite Capital Management LLC raised its position 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 valued at $8,987,000 after buying an additional 39,385 shares in the last quarter.

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.