Corient Private Wealth LLC Cuts Stock Position in Kayne Anderson BDC, Inc. $KBDC

Corient Private Wealth LLC decreased its holdings in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) by 23.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,258 shares of the company’s stock after selling 121,507 shares during the quarter. Corient Private Wealth LLC’s holdings in Kayne Anderson BDC were worth $5,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC grew 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 in the last quarter. Brevan Howard Capital Management LP purchased a new position in Kayne Anderson BDC in the 3rd quarter worth approximately $156,000. Osaic Holdings Inc. grew its position in Kayne Anderson BDC by 70.9% in the second 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 in the last quarter. Centiva Capital LP acquired a new stake in Kayne Anderson BDC in the third quarter valued at approximately $172,000. Finally, Acadian Asset Management LLC raised its stake in shares of Kayne Anderson BDC by 341.2% during the first 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.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KBDC. Keefe, Bruyette & Woods reduced their target price 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Finally, UBS Group lifted 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 note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.12.

Kayne Anderson BDC Price Performance

KBDC stock opened at $13.62 on Friday. The stock’s 50 day moving average is $14.49 and its two-hundred day moving average is $14.36. Kayne Anderson BDC, Inc. has a 52-week low of $13.06 and a 52-week high of $16.28. The company has a market capitalization of $904.02 million, a PE ratio of 10.64 and a beta of 0.25. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.04.

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

Kayne Anderson BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 annualized dividend and a yield of 11.7%. Kayne Anderson BDC’s dividend payout ratio is currently 125.00%.

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.