James Robo Buys 20,841 Shares of Kayne Anderson BDC (NYSE:KBDC) Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo acquired 20,841 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was acquired at an average price of $13.13 per share, for a total transaction of $273,642.33. Following the completion of the transaction, the director directly owned 420,841 shares in the company, valued at approximately $5,525,642.33. This represents a 5.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Kayne Anderson BDC Price Performance

NYSE KBDC traded down $0.07 during trading hours on Wednesday, reaching $13.06. The company’s stock had a trading volume of 352,512 shares, compared to its average volume of 335,850. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25. The company’s 50-day moving average is $13.46 and its two-hundred day moving average is $13.94. Kayne Anderson BDC, Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $15.87. The stock has a market cap of $862.81 million, a PE ratio of 11.99 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC) last announced 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. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The company had revenue of $19.27 million during the quarter, compared to analysts’ expectations of $51.86 million. Analysts forecast that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada reduced their price objective on shares of 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. UBS Group lowered their target price on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, September 1st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Two investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.50.

Institutional Inflows and Outflows

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

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.