Insider Buying: Kayne Anderson BDC (NYSE:KBDC) Director Buys $4,433,600.00 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo acquired 340,000 shares of the stock in a transaction dated Wednesday, September 16th. The shares were bought at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the transaction, the director directly owned 400,000 shares of the company’s stock, valued at $5,216,000. This represents a 566.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Kayne Anderson BDC Trading Down 1.3%

KBDC opened at $13.07 on Friday. The stock has a market capitalization of $863.41 million, a P/E ratio of 11.99 and a beta of 0.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. Kayne Anderson BDC, Inc. has a 12 month low of $12.88 and a 12 month high of $15.87. The firm’s fifty day simple moving average is $13.49 and its 200 day simple moving average is $13.94.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings results on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%. As a group, research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be given a $0.40 dividend. 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 currently 146.79%.

Institutional Trading of Kayne Anderson BDC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Kayne Anderson BDC by 2.7% in the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock valued at $76,355,000 after buying an additional 143,854 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Kayne Anderson BDC by 101.8% during the first 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 during the last quarter. HB Wealth Management LLC increased its stake in shares of Kayne Anderson BDC by 19.1% during the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after purchasing an additional 44,848 shares during the last quarter. Closed End Fund Advisors Inc. bought a new stake in Kayne Anderson BDC in the fourth quarter valued at approximately $1,048,000. Finally, Sei Investments Co. bought a new stake in Kayne Anderson BDC in the first quarter valued at approximately $730,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KBDC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Royal Bank Of Canada lowered their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Zacks Research lowered shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Finally, UBS Group reduced their target price 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 given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kayne Anderson BDC currently has a consensus rating of “Hold” and an average target price 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.