Closed End Fund Advisors Inc. Makes New Investment in Kayne Anderson BDC, Inc. $KBDC

Closed End Fund Advisors Inc. purchased a new position in Kayne Anderson BDC, Inc. (NYSE:KBDC) during the 4th quarter, Holdings Channel reports. The fund purchased 73,202 shares of the company’s stock, valued at approximately $1,048,000.

Several other institutional investors have also added to or reduced their stakes in the business. Koch Inc. bought a new position in Kayne Anderson BDC in the second quarter worth approximately $185,887,000. State of Michigan Retirement System bought a new position in Kayne Anderson BDC in the fourth quarter worth approximately $94,036,000. Bank of America Corp DE raised its position in Kayne Anderson BDC by 13.4% in the third quarter. Bank of America Corp DE now owns 5,211,124 shares of the company’s stock worth $69,412,000 after acquiring an additional 614,393 shares during the period. Pathstone Holdings LLC raised its position in Kayne Anderson BDC by 612.8% in the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock worth $19,261,000 after acquiring an additional 1,243,181 shares during the period. Finally, UBS Group AG raised its position in Kayne Anderson BDC by 265.0% in the fourth quarter. UBS Group AG now owns 576,812 shares of the company’s stock worth $8,260,000 after acquiring an additional 418,789 shares during the period.

Kayne Anderson BDC Stock Performance

Shares of NYSE KBDC opened at $14.33 on Friday. The firm has a fifty day moving average price of $14.47 and a 200-day moving average price of $14.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $950.80 million, a PE ratio of 11.20 and a beta of 0.25. Kayne Anderson BDC, Inc. has a 1 year low of $13.06 and a 1 year high of $16.28.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $24.86 million during the quarter, compared to analysts’ expectations of $52.40 million. Kayne Anderson BDC had a net margin of 37.30% and a return on equity of 10.47%. Equities analysts anticipate that Kayne Anderson BDC, Inc. will post 1.62 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.2%. Kayne Anderson BDC’s dividend payout ratio is 125.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Kayne Anderson BDC from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods decreased their price target on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, UBS Group increased their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.38.

Kayne Anderson BDC Company Profile

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.