Royal Bank Of Canada Cuts Kayne Anderson BDC (NYSE:KBDC) Price Target to $15.00

Kayne Anderson BDC (NYSE:KBDC) had its price objective trimmed by Royal Bank Of Canada from $16.00 to $15.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. UBS Group raised their target price on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

Kayne Anderson BDC Trading Down 1.7%

Shares of Kayne Anderson BDC stock opened at $13.52 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a fifty day moving average price of $13.78 and a 200 day moving average price of $14.07. Kayne Anderson BDC has a 1 year low of $13.06 and a 1 year high of $15.87. The stock has a market cap of $893.06 million, a PE ratio of 12.41 and a beta of 0.31.

Kayne Anderson BDC (NYSE:KBDC) last posted its earnings results on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The company had revenue of $19.27 million during the quarter, compared to the consensus estimate of $51.86 million. Equities research analysts predict that Kayne Anderson BDC will post 1.62 earnings per share for the current year.

Kayne Anderson BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.8%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio (DPR) is currently 146.79%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Advisory Services Network LLC boosted its stake 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 acquiring an additional 1,407 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of Kayne Anderson BDC in the 1st quarter valued at about $155,000. Brevan Howard Capital Management LP acquired a new position in Kayne Anderson BDC in the 3rd quarter worth about $156,000. Osaic Holdings Inc. raised its holdings in Kayne Anderson BDC by 70.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after purchasing an additional 4,261 shares during the period. Finally, Centiva Capital LP purchased a new position in Kayne Anderson BDC during the third quarter worth approximately $172,000.

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.