Kayne Anderson BDC (NYSE:KBDC) Issues Earnings Results

Kayne Anderson BDC (NYSE:KBDC) posted its quarterly earnings results on Monday. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02, Zacks reports. The business had revenue of $19.27 million during the quarter, compared to analyst estimates of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.51%.

Kayne Anderson BDC Stock Performance

Shares of NYSE:KBDC traded up $0.02 during trading on Wednesday, hitting $13.77. The stock had a trading volume of 22,039 shares, compared to its average volume of 326,287. Kayne Anderson BDC has a 12-month low of $13.06 and a 12-month high of $15.87. The stock has a market capitalization of $913.37 million, a price-to-earnings ratio of 12.68 and a beta of 0.31. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.04. The stock has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $14.08.

Kayne Anderson BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.6%. Kayne Anderson BDC’s dividend payout ratio is currently 146.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KBDC. Birchview Capital LP acquired a new position in shares of Kayne Anderson BDC in the 4th quarter valued at $286,000. Zacks Investment Management purchased a new stake in Kayne Anderson BDC in the 3rd quarter valued at $239,000. BNP Paribas Financial Markets raised its holdings in shares of 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 buying an additional 2,203 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Kayne Anderson BDC in the 3rd quarter valued at about $239,000. Finally, Global View Capital Management LLC lifted its holdings 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.

Analyst Ratings Changes

KBDC has been the subject of a number of analyst reports. 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 research note on Friday, June 12th. UBS Group increased their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and two have issued 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 Company Profile

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.