Kayne Anderson BDC (NYSE:KBDC) Downgraded by Wells Fargo & Company to Hold

Kayne Anderson BDC (NYSE:KBDC) was downgraded by analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. UBS Group boosted their target price on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Kayne Anderson BDC currently has an average rating of “Moderate Buy” and an average price target of $15.13.

Kayne Anderson BDC Trading Up 0.1%

KBDC opened at $14.46 on Friday. The firm has a market cap of $959.55 million, a price-to-earnings ratio of 11.30 and a beta of 0.25. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average price of $14.55 and a 200-day moving average price of $14.46. Kayne Anderson BDC has a 12 month low of $13.06 and a 12 month high of $16.28.

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

Institutional Trading of Kayne Anderson BDC

A number of institutional investors and hedge funds have recently modified their holdings of KBDC. Advisory Services Network LLC raised its position in shares of Kayne Anderson BDC by 16.0% during the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock worth $146,000 after purchasing an additional 1,407 shares during the last quarter. Osaic Holdings Inc. increased its stake in Kayne Anderson BDC by 70.9% during the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after buying an additional 4,261 shares in the last quarter. Acadian Asset Management LLC increased its stake in Kayne Anderson BDC by 341.2% during the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock worth $173,000 after buying an additional 8,343 shares in the last quarter. Sovereign Financial Group Inc. acquired a new position in shares of Kayne Anderson BDC during the first quarter valued at approximately $155,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Kayne Anderson BDC during the third quarter valued at approximately $156,000.

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.