Kayne Anderson BDC (NYSE:KBDC) Reaches New 12-Month Low – What’s Next?

Kayne Anderson BDC, Inc. (NYSE:KBDC)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $13.04 and last traded at $13.0460, with a volume of 65094 shares trading hands. The stock had previously closed at $13.19.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group cut their price target on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a 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 on the stock in a research note on Thursday, August 13th. Wells Fargo & Company reissued 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, Zacks Research lowered shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kayne Anderson BDC currently has an average rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Stock Performance

The business has a fifty day simple moving average of $13.58 and a 200-day simple moving average of $13.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. The firm has a market cap of $863.45 million, a P/E ratio of 12.00 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.42 EPS for the quarter, beating the consensus estimate 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 business had revenue of $19.27 million during the quarter, compared to analyst estimates of $51.86 million. On average, sell-side analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio (DPR) is 146.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Koch Inc. purchased a new position in Kayne Anderson BDC during the second quarter valued at $185,887,000. Bank of America Corp DE grew its stake in shares of Kayne Anderson BDC by 180.1% in the second quarter. Bank of America Corp DE now owns 4,596,731 shares of the company’s stock worth $70,146,000 after acquiring an additional 2,955,661 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of Kayne Anderson BDC by 612.8% during the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock valued at $19,261,000 after acquiring an additional 1,243,181 shares in the last quarter. Van ECK Associates Corp bought a new position in Kayne Anderson BDC in the 4th quarter worth about $11,804,000. Finally, UBS Group AG grew its position in Kayne Anderson BDC by 265.0% during the 4th quarter. UBS Group AG now owns 576,812 shares of the company’s stock valued at $8,260,000 after purchasing an additional 418,789 shares during the last quarter.

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.