UBS Group Issues Pessimistic Forecast for Kayne Anderson BDC (NYSE:KBDC) Stock Price

Kayne Anderson BDC (NYSE:KBDC) had its price target dropped by equities research analysts at UBS Group from $13.50 to $12.50 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group‘s price target suggests a potential downside of 2.38% from the stock’s previous close.

KBDC has been the topic of several other research reports. Royal Bank Of Canada cut their price target 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. Zacks Research upgraded Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Keefe, Bruyette & Woods lowered their price objective on Kayne Anderson BDC from $15.00 to $14.50 and set an “outperform” rating for the company in a research report on Monday. Finally, Wells Fargo & Company cut their target price on shares of Kayne Anderson BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.75.

Kayne Anderson BDC Stock Up 3.2%

KBDC stock traded up $0.40 during midday trading on Monday, hitting $12.80. The company’s stock had a trading volume of 557,049 shares, compared to its average volume of 350,005. The firm has a 50-day simple moving average of $12.88 and a 200-day simple moving average of $13.75. The firm has a market capitalization of $845.62 million, a P/E ratio of 15.24 and a beta of 0.32. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. Kayne Anderson BDC has a 52-week low of $12.14 and a 52-week high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings data 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 business had revenue of $58.96 million for the quarter, compared to analysts’ expectations of $57.35 million. Kayne Anderson BDC had a return on equity of 10.78% and a net margin of 24.17%. As a group, equities analysts forecast that Kayne Anderson BDC will post 1.61 EPS for the current year.

Insider Transactions at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director James Robo acquired 146,755 shares of the stock in a transaction dated Monday, September 28th. The stock was acquired at an average cost of $13.03 per share, with a total value of $1,912,217.65. Following the transaction, the director owned 766,716 shares in the company, valued at $9,990,309.48. The trade was a 23.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 766,716 shares of company stock worth $10,002,000. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

Several institutional investors have recently added to or reduced their stakes in KBDC. Russell Investments Group Ltd. raised its position in Kayne Anderson BDC by 2.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 819,478 shares of the company’s stock valued at $10,293,000 after purchasing an additional 23,154 shares during the last quarter. TT Capital Management LLC grew its holdings in Kayne Anderson BDC by 30.5% in the third 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. Columbus Macro LLC raised its holdings in Kayne Anderson BDC by 6.1% in the third quarter. Columbus Macro LLC now owns 647,693 shares of the company’s stock valued at $8,135,000 after buying an additional 36,957 shares during the period. Confluence Investment Management LLC lifted its stake in shares of Kayne Anderson BDC by 2.8% during the third quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock worth $966,000 after purchasing an additional 2,077 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in Kayne Anderson BDC by 126.1% during the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after buying an additional 12,663 shares during the period.

Kayne Anderson BDC Company Profile

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.