Insider Buying: Kayne Anderson BDC (NYSE:KBDC) Director Acquires $1,231,089.60 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo acquired 94,120 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was acquired at an average cost of $13.08 per share, for a total transaction of $1,231,089.60. Following the acquisition, the director owned 514,961 shares of the company’s stock, valued at $6,735,689.88. The trade was a 22.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Kayne Anderson BDC Stock Performance

NYSE KBDC traded down $0.07 during trading hours on Wednesday, hitting $13.06. 352,512 shares of the company’s stock traded hands, compared to its average volume of 335,850. Kayne Anderson BDC, Inc. has a 52 week low of $12.88 and a 52 week high of $15.87. The firm has a market capitalization of $862.81 million, a P/E ratio of 11.99 and a beta of 0.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. The business’s fifty day moving average price is $13.46 and its two-hundred day moving average price is $13.94.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings results on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. Equities research analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio is 146.79%.

Analyst Ratings Changes

KBDC has been the topic of several analyst reports. Zacks Research downgraded Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. UBS Group reduced their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Royal Bank Of Canada decreased their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.50.

Institutional Trading of Kayne Anderson BDC

Institutional investors and hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. bought a new position in Kayne Anderson BDC in the 2nd quarter worth $147,000. Sovereign Financial Group Inc. bought a new stake in Kayne Anderson BDC during the first quarter valued at about $155,000. MQS Management LLC purchased a new position in shares of Kayne Anderson BDC in the first quarter valued at about $204,000. Squarepoint Ops LLC lifted its position in shares of Kayne Anderson BDC by 126.1% in the second quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock valued at $307,000 after acquiring an additional 12,663 shares in the last quarter. Finally, TT Capital Management LLC bought a new position in shares of Kayne Anderson BDC in the fourth quarter worth about $308,000.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.