Kayne Anderson BDC (NYSE:KBDC) Stock Gets Price Target Trim from UBS Group

Kayne Anderson BDC (NYSE:KBDC) had its price target trimmed by UBS Group from $13.50 to $12.50 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

KBDC has been the topic of several other reports. Zacks Research upgraded Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Wells Fargo & Company reduced their price target on Kayne Anderson BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank Of Canada decreased their price target 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. Finally, Keefe, Bruyette & Woods decreased their price target on Kayne Anderson BDC from $15.00 to $14.50 and set an “outperform” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $13.75.

Kayne Anderson BDC Stock Up 0.0%

Kayne Anderson BDC stock opened at $12.96 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.25 and a current ratio of 1.12. Kayne Anderson BDC has a one year low of $12.14 and a one year high of $15.87. The company has a 50-day simple moving average of $12.85 and a 200-day simple moving average of $13.72. The firm has a market capitalization of $853.16 million, a P/E ratio of 15.43 and a beta of 0.32.

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

Kayne Anderson BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 19th. Investors of record on Thursday, December 31st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.60 annualized dividend and a yield of 12.3%. Kayne Anderson BDC’s dividend payout ratio (DPR) is currently 190.48%.

Insider Transactions at Kayne Anderson BDC

In other news, Director James Robo bought 340,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were purchased at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the completion of the acquisition, the director directly owned 400,000 shares in the company, valued at approximately $5,216,000. The trade was a 566.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 766,716 shares of company stock worth $10,002,000 over the last quarter. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of institutional investors and hedge funds have recently bought and sold shares of KBDC. Advisors Asset Management Inc. acquired a new stake in shares of Kayne Anderson BDC during the 3rd quarter valued at $383,000. Russell Investments Group Ltd. grew its holdings in shares of Kayne Anderson BDC by 2.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 819,478 shares of the company’s stock worth $10,293,000 after acquiring an additional 23,154 shares during the last quarter. TT Capital Management LLC grew its holdings in shares of Kayne Anderson BDC by 30.5% in the 3rd quarter. TT Capital Management LLC now owns 26,100 shares of the company’s stock worth $328,000 after acquiring an additional 6,100 shares during the last quarter. Columbus Macro LLC raised its position in shares of 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 period. Finally, Confluence Investment Management LLC raised its position in shares of Kayne Anderson BDC by 2.8% during the third quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock worth $966,000 after purchasing an additional 2,077 shares during the period.

Kayne Anderson BDC Company Profile

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.