Kayne Anderson BDC (NYSE:KBDC) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Kayne Anderson BDC (NYSE:KBDC) announced its earnings results on Monday. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02, Zacks reports. The company had revenue of $24.86 million for the quarter, compared to analysts’ expectations of $52.40 million. Kayne Anderson BDC had a return on equity of 10.34% and a net margin of 37.30%.

Kayne Anderson BDC Stock Performance

Shares of KBDC traded down $0.11 during mid-day trading on Wednesday, hitting $15.04. The stock had a trading volume of 90,402 shares, compared to its average volume of 347,778. The firm has a market cap of $999.11 million, a P/E ratio of 11.73 and a beta of 0.28. The business has a fifty day moving average price of $14.18 and a 200-day moving average price of $14.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.26 and a quick ratio of 1.26. Kayne Anderson BDC has a 52 week low of $13.06 and a 52 week high of $16.40.

Kayne Anderson BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 10.6%. Kayne Anderson BDC’s payout ratio is presently 120.30%.

Insider Activity

In other news, Director George E. Marucci, Jr. bought 9,000 shares of the stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $13.74 per share, for a total transaction of $123,660.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at $137,400. This represents a 900.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Kayne Anderson BDC

Several hedge funds have recently made changes to their positions in KBDC. Advisory Services Network LLC raised its stake in shares of Kayne Anderson BDC by 16.0% in the fourth quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock valued at $146,000 after buying an additional 1,407 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Kayne Anderson BDC during the 3rd quarter valued at $156,000. Osaic Holdings Inc. raised its stake in shares of 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 purchasing an additional 4,261 shares during the period. Centiva Capital LP bought a new stake in shares of Kayne Anderson BDC during the 3rd quarter valued at $172,000. Finally, Acadian Asset Management LLC raised its stake in shares of Kayne Anderson BDC by 341.2% during the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock valued at $173,000 after purchasing an additional 8,343 shares during the period.

Analyst Upgrades and Downgrades

KBDC has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on 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. Wells Fargo & Company boosted their price objective on Kayne Anderson BDC from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, UBS Group boosted their price objective on 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Kayne Anderson BDC currently has a consensus rating of “Moderate Buy” and an average target price 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.