Kayne Anderson BDC (NYSE:KBDC) Stock Price Target Lowered at Wells Fargo & Company

Kayne Anderson BDC (NYSE:KBDC) had its price objective decreased by research analysts at Wells Fargo & Company from $14.00 to $13.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.14% from the company’s current price.

A number of other brokerages have also recently commented on KBDC. Zacks Research raised Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Royal Bank Of Canada cut their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Finally, UBS Group cut their price objective on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Kayne Anderson BDC currently has an average rating of “Hold” and a consensus price target of $14.25.

Kayne Anderson BDC Stock Performance

Shares of NYSE:KBDC traded up $0.07 on Monday, hitting $12.48. 40,554 shares of the company were exchanged, compared to its average volume of 347,933. The firm has a market capitalization of $824.35 million, a P/E ratio of 14.85 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. Kayne Anderson BDC has a 1-year low of $12.14 and a 1-year high of $15.87. The stock’s 50 day moving average price is $12.88 and its 200 day moving average price is $13.75.

Kayne Anderson BDC (NYSE:KBDC) last released its earnings results on Thursday, November 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The firm had revenue of $58.96 million for the quarter, compared to the consensus estimate of $57.35 million. Kayne Anderson BDC had a return on equity of 10.78% and a net margin of 24.17%. Sell-side analysts predict that Kayne Anderson BDC will post 1.61 EPS for the current year.

Insider Transactions at Kayne Anderson BDC

In related news, Director James Robo purchased 340,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the completion of the acquisition, the director owned 400,000 shares of the company’s stock, valued at $5,216,000. The trade was a 566.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased 766,716 shares of company stock valued at $10,002,000 over the last three months. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in KBDC. Confluence Investment Management LLC increased its holdings in shares of Kayne Anderson BDC by 2.8% during the 3rd quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock valued at $966,000 after purchasing an additional 2,077 shares in the last quarter. TT Capital Management LLC lifted its stake in shares of Kayne Anderson BDC by 30.5% in the 3rd quarter. TT Capital Management LLC now owns 26,100 shares of the company’s stock valued at $328,000 after purchasing an additional 6,100 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Kayne Anderson BDC in the 2nd quarter valued at $147,000. Squarepoint Ops LLC lifted its stake in shares of Kayne Anderson BDC by 126.1% in the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock valued at $307,000 after purchasing an additional 12,663 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Kayne Anderson BDC by 2.9% during the third quarter. Russell Investments Group Ltd. now owns 819,478 shares of the company’s stock worth $10,293,000 after buying an additional 23,154 shares in the last quarter.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc is a business development company that invests in privately held, middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

Its investment activities primarily consist of loans and other debt investments, including senior secured, unitranche and subordinated debt. Kayne Anderson BDC may also make equity and equity-related investments in portfolio companies.