Kayne Anderson BDC (NYSE:KBDC) Stock Price Breaks Above Fifty Day Moving Average Following Analyst Downgrade

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares passed above its fifty day moving average during trading on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock has a fifty day moving average of $12.86 and traded as high as $12.97. Kayne Anderson BDC shares last traded at $12.93, with a volume of 347,193 shares trading hands.

A number of other analysts have also recently issued reports on KBDC. Royal Bank Of Canada lowered their target price on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. 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 research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Kayne Anderson BDC has an average rating of “Hold” and an average price target of $13.75.

Insiders Place Their Bets

In other news, Director James Robo bought 340,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was purchased at an average price of $13.04 per share, for a total transaction of $4,433,600.00. Following the acquisition, the director owned 400,000 shares in the company, valued at approximately $5,216,000. This trade represents a 566.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 766,716 shares of company stock valued at $10,002,000. 2.90% of the stock is currently owned by corporate insiders.

Key Kayne Anderson BDC News

Here are the key news stories impacting Kayne Anderson BDC this week:

• Positive Sentiment: Keefe, Bruyette & Woods lowered its price target to $14.50 from $15.00 but maintained an “outperform” rating, leaving its target above the recent share price. Keefe, Bruyette & Woods analyst update
• Positive Sentiment: A summary of KBDC’s earnings call highlighted income strength. The company also recently beat quarterly estimates, reporting $0.46 per share versus the $0.39 consensus and revenue of $58.96 million versus expectations of $57.35 million. Earnings call highlights
• Neutral Sentiment: Wells Fargo cut its target to $13 from $14 and maintained an “equal weight” rating, indicating a more cautious view despite a target near the recent share price. Wells Fargo price target update
• Negative Sentiment: UBS lowered its target to $12.50 from $13.50 and kept a “neutral” rating; the new target is below the recent share price, signaling limited upside in its view. UBS price target update

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KBDC. Bank of America Corp DE grew its stake in shares of Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after acquiring an additional 143,854 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Kayne Anderson BDC by 2.9% in the third quarter. Russell Investments Group Ltd. now owns 819,478 shares of the company’s stock worth $10,293,000 after purchasing an additional 23,154 shares in the last quarter. Requisite Capital Management LLC lifted its position in shares of Kayne Anderson BDC by 6.5% in the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock worth $8,987,000 after purchasing an additional 39,385 shares in the last quarter. Columbus Macro LLC boosted its holdings in Kayne Anderson BDC by 6.1% during the third quarter. Columbus Macro LLC now owns 647,693 shares of the company’s stock worth $8,135,000 after purchasing an additional 36,957 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Kayne Anderson BDC by 19.1% during the second 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.

Kayne Anderson BDC Price Performance

The firm has a market cap of $850.92 million, a price-to-earnings ratio of 15.39 and a beta of 0.32. The company’s fifty day moving average is $12.86 and its 200 day moving average is $13.73. The company has a quick ratio of 1.25, a current ratio of 1.12 and a debt-to-equity ratio of 1.15.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. Kayne Anderson BDC had a net margin of 24.17% and a return on equity of 10.90%. The firm had revenue of $58.96 million for the quarter, compared to analyst estimates of $57.35 million. On average, equities research analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 19th. Stockholders of record on Thursday, December 31st will be issued a $0.40 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 12.4%. Kayne Anderson BDC’s dividend payout ratio (DPR) is presently 190.48%.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc. is a business development company that provides financing to middle-market businesses, primarily in the United States. Its investment strategy focuses on privately held companies and aims to generate income and long-term capital appreciation through private credit investments. The company primarily makes senior secured loans, including first-lien and unitranche loans, and may also invest in other forms of debt and equity. Its investment adviser is KA Credit Advisors, an affiliate of Kayne Anderson Capital Advisors, which manages the company’s investment activities.