Kayne Anderson BDC (NYSE:KBDC) Stock Price Down 1.5% – What’s Next?

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) traded down 1.5% during trading on Friday . The company traded as low as $13.63 and last traded at $13.7050. Approximately 332,006 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 276,693 shares. The stock had previously closed at $13.92.

Analysts Set New Price Targets

Several brokerages recently weighed in on KBDC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. UBS Group lifted 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 note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kayne Anderson BDC has an average rating of “Moderate Buy” and an average price target of $15.12.

Kayne Anderson BDC Price Performance

The company has a 50 day moving average price of $14.19 and a 200-day moving average price of $14.20. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.04. The company has a market cap of $909.33 million, a price-to-earnings ratio of 10.71 and a beta of 0.30.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.43 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 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 predict that Kayne Anderson BDC, Inc. will post 1.62 EPS for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KBDC. Hennion & Walsh Asset Management Inc. raised its position in shares of Kayne Anderson BDC by 46.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company’s stock valued at $1,350,000 after purchasing an additional 31,444 shares during the period. Bank of America Corp DE lifted its holdings in Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock valued at $76,355,000 after buying an additional 143,854 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Kayne Anderson BDC by 62.8% in the 1st quarter. Royal Bank of Canada now owns 67,563 shares of the company’s stock worth $927,000 after purchasing an additional 26,066 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Kayne Anderson BDC by 101.8% in the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after buying an additional 73,322 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Kayne Anderson BDC during the 1st quarter valued at about $730,000.

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.