Kayne Anderson BDC (NYSE:KBDC) Stock Rating Lowered by Zacks Research

Kayne Anderson BDC (NYSE:KBDC) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company reiterated an “equal weight” rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Finally, UBS Group raised their price objective on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.88.

Kayne Anderson BDC Price Performance

Shares of Kayne Anderson BDC stock opened at $13.24 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25. Kayne Anderson BDC has a 52-week low of $13.06 and a 52-week high of $15.87. The company has a fifty day moving average of $13.71 and a 200-day moving average of $14.05. The stock has a market capitalization of $874.70 million, a price-to-earnings ratio of 12.15 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 for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $19.27 million during the quarter, compared to analyst estimates 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 expect that Kayne Anderson BDC will post 1.61 EPS for the current year.

Institutional Trading of Kayne Anderson BDC

A number of institutional investors and hedge funds have recently modified their holdings of KBDC. NewEdge Advisors LLC purchased a new stake in shares of Kayne Anderson BDC during the first quarter valued at $228,000. Goldman Sachs Group Inc. boosted its holdings in shares of Kayne Anderson BDC by 119.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,285 shares of the company’s stock valued at $491,000 after acquiring an additional 16,501 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Kayne Anderson BDC by 341.2% in the first quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock worth $173,000 after acquiring an additional 8,343 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Kayne Anderson BDC by 294.3% during the second quarter. JPMorgan Chase & Co. now owns 19,301 shares of the company’s stock valued at $295,000 after purchasing an additional 14,406 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Kayne Anderson BDC by 15.1% during the second quarter. Invesco Ltd. now owns 45,063 shares of the company’s stock valued at $688,000 after purchasing an additional 5,916 shares during the last quarter.

Kayne Anderson BDC Company Profile

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.