Insider Buying: Kayne Anderson BDC (NYSE:KBDC) Director Purchases 105,000 Shares of Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo bought 105,000 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were acquired at an average price of $13.05 per share, with a total value of $1,370,250.00. Following the transaction, the director owned 619,961 shares of the company’s stock, valued at $8,090,491.05. The trade was a 20.39% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Kayne Anderson BDC Price Performance

Shares of KBDC stock traded up $0.01 during trading hours on Friday, hitting $13.01. The company’s stock had a trading volume of 182,715 shares, compared to its average volume of 336,130. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. The business has a fifty day moving average of $13.43 and a 200-day moving average of $13.93. Kayne Anderson BDC, Inc. has a twelve month low of $12.88 and a twelve month high of $15.87. The stock has a market cap of $858.85 million, a price-to-earnings ratio of 11.94 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $19.27 million during the quarter, compared to the consensus estimate of $51.86 million. As a group, equities research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Dividend Announcement

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is 146.79%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Kayne Anderson BDC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baird Financial Group Inc. purchased a new stake in shares of Kayne Anderson BDC during the 2nd quarter valued at $147,000. Sovereign Financial Group Inc. purchased a new stake in Kayne Anderson BDC during the first quarter valued at about $155,000. MQS Management LLC purchased a new stake in Kayne Anderson BDC during the first quarter valued at about $204,000. Squarepoint Ops LLC increased its stake in Kayne Anderson BDC by 126.1% during the second quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after acquiring an additional 12,663 shares during the last quarter. Finally, TT Capital Management LLC purchased a new position in shares of Kayne Anderson BDC in the 4th quarter worth about $308,000.

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.