Kayne Anderson BDC (NYSE:KBDC) Issues Earnings Results, Misses Expectations By $0.09 EPS

Kayne Anderson BDC (NYSE:KBDC) announced its earnings results on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.09), FiscalAI reports. The firm had revenue of ($25.53) million for the quarter, compared to analyst estimates of $56.48 million. Kayne Anderson BDC had a return on equity of 10.40% and a net margin of 46.55%.

Kayne Anderson BDC Trading Up 1.8%

Kayne Anderson BDC stock traded up $0.24 during mid-day trading on Monday, hitting $13.66. The company’s stock had a trading volume of 448,208 shares, compared to its average volume of 370,918. The stock has a market cap of $934.34 million, a price-to-earnings ratio of 9.05 and a beta of 0.24. The business has a 50 day moving average price of $14.33 and a 200-day moving average price of $14.52. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.46 and a quick ratio of 1.46. Kayne Anderson BDC has a 12 month low of $13.06 and a 12 month high of $17.38.

Institutional Investors Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBDC. Advisory Services Network LLC increased its holdings in shares of Kayne Anderson BDC by 16.0% in 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 in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Kayne Anderson BDC by 14.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 17,265 shares of the company’s stock valued at $230,000 after purchasing an additional 2,203 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Kayne Anderson BDC by 70.9% during the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock valued at $157,000 after acquiring an additional 4,261 shares during the period. Global View Capital Management LLC increased its holdings in Kayne Anderson BDC by 50.0% during the 2nd quarter. Global View Capital Management LLC now owns 15,468 shares of the company’s stock worth $236,000 after purchasing an additional 5,156 shares during the period. Finally, Invesco Ltd. boosted its position in Kayne Anderson BDC by 15.1% during the 2nd quarter. Invesco Ltd. now owns 45,063 shares of the company’s stock valued at $688,000 after acquiring an additional 5,916 shares in the last quarter.

Analyst Upgrades and Downgrades

KBDC has been the topic of a number of research reports. Royal Bank Of Canada cut their price target on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Wells Fargo & Company dropped their price target on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Kayne Anderson BDC from $16.50 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

About Kayne Anderson BDC

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.