Kayne Anderson BDC (NYSE:KBDC) Reaches New 1-Year Low – Here’s Why

Kayne Anderson BDC, Inc. (NYSE:KBDC) reached a new 52-week low during trading on Wednesday. The stock traded as low as $12.42 and last traded at $12.4250, with a volume of 46762 shares changing hands. The stock had previously closed at $12.70.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reiterated an “equal weight” rating and set 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 downgraded Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada lowered their target price on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Finally, UBS Group dropped their price target 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 research 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, the company presently has a consensus rating of “Hold” and a consensus target price of $14.50.

Kayne Anderson BDC Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $821.34 million, a P/E ratio of 11.39 and a beta of 0.34. The business has a 50 day simple moving average of $13.31 and a 200-day simple moving average of $13.87.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The business 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%. Analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is presently 146.79%.

Insider Transactions at Kayne Anderson BDC

In other news, Director James Robo bought 340,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was purchased at an average price of $13.04 per share, for a total transaction of $4,433,600.00. Following the transaction, the director owned 400,000 shares in the company, valued at approximately $5,216,000. This trade represents a 566.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 766,716 shares of company stock worth $10,002,000. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings 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 buying an additional 143,854 shares in the last quarter. Renaissance Technologies LLC increased its position in Kayne Anderson BDC by 101.8% in the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after acquiring an additional 73,322 shares during the period. Sei Investments Co. bought a new stake in Kayne Anderson BDC during the 1st quarter valued at $730,000. HB Wealth Management LLC raised its stake in Kayne Anderson BDC by 19.1% during the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after acquiring an additional 44,848 shares in the last quarter. Finally, Requisite Capital Management LLC raised its stake in Kayne Anderson BDC by 6.5% during the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock valued at $8,987,000 after acquiring an additional 39,385 shares in the last quarter.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc is a business development company that provides financing to privately held U.S. middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing in the debt and equity securities of companies that may have limited access to traditional financing.

Its investment activities primarily include providing secured loans and other forms of credit, along with potential investments in subordinated debt, preferred equity and common equity.