Kayne Anderson BDC (NYSE:KBDC) Director James Robo Buys 146,755 Shares of Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo bought 146,755 shares of Kayne Anderson BDC stock in a transaction dated Monday, September 28th. The shares were bought at an average cost of $13.03 per share, with a total value of $1,912,217.65. Following the completion of the transaction, the director directly owned 766,716 shares in the company, valued at approximately $9,990,309.48. This trade represents a 23.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Kayne Anderson BDC Stock Performance

Shares of NYSE:KBDC traded down $0.48 during mid-day trading on Wednesday, reaching $12.59. The company had a trading volume of 349,512 shares, compared to its average volume of 339,957. 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 firm has a market cap of $831.09 million, a price-to-earnings ratio of 11.55 and a beta of 0.32. The company’s 50-day moving average price is $13.40 and its 200-day moving average price is $13.91. Kayne Anderson BDC, Inc. has a one year low of $12.56 and a one year high of $15.87.

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

Kayne Anderson BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 12.7%. Kayne Anderson BDC’s dividend payout ratio is 146.79%.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Kayne Anderson BDC by 2.7% in the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after purchasing an additional 143,854 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Kayne Anderson BDC by 101.8% in the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock worth $1,994,000 after buying an additional 73,322 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Kayne Anderson BDC by 19.1% in the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after buying an additional 44,848 shares in the last quarter. Requisite Capital Management LLC boosted its stake in Kayne Anderson BDC by 6.5% during the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock valued at $8,987,000 after buying an additional 39,385 shares during the period. Finally, Closed End Fund Advisors Inc. bought a new stake in Kayne Anderson BDC during the fourth quarter valued at $1,048,000.

Analyst Ratings Changes

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

About Kayne Anderson BDC

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.