Kayne Anderson BDC (NYSE:KBDC) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Kayne Anderson BDC (NYSE:KBDC) announced its quarterly earnings results on Monday. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03, Zacks reports. Kayne Anderson BDC had a return on equity of 10.40% and a net margin of 46.55%.The business had revenue of ($25.53) million for the quarter, compared to analysts’ expectations of $56.48 million.

Kayne Anderson BDC Stock Performance

NYSE:KBDC opened at $13.66 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $14.31 and its 200 day simple moving average is $14.51. The stock has a market cap of $934.29 million, a P/E ratio of 9.05 and a beta of 0.16. Kayne Anderson BDC has a twelve month low of $13.06 and a twelve month high of $17.38.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently modified their holdings of KBDC. Koch Inc. bought a new position in Kayne Anderson BDC in the second quarter worth about $185,887,000. Bank of America Corp DE boosted its position in Kayne Anderson BDC by 13.4% during the 3rd quarter. Bank of America Corp DE now owns 5,211,124 shares of the company’s stock valued at $69,412,000 after acquiring an additional 614,393 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of Kayne Anderson BDC by 612.8% during the 3rd quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock worth $19,261,000 after acquiring an additional 1,243,181 shares during the period. Van ECK Associates Corp bought a new position in shares of Kayne Anderson BDC in the 4th quarter worth approximately $11,804,000. Finally, Franklin Resources Inc. lifted its stake in shares of Kayne Anderson BDC by 102.7% in the 4th quarter. Franklin Resources Inc. now owns 624,638 shares of the company’s stock valued at $8,945,000 after purchasing an additional 316,418 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KBDC. Royal Bank Of Canada cut their target price on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Wells Fargo & Company dropped their price target on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Kayne Anderson BDC from $16.50 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Kayne Anderson BDC presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

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.