Kayne Anderson BDC (NYSE:KBDC) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Kayne Anderson BDC (NYSE:KBDC) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks reports.

Several other research analysts also recently issued reports on the company. Royal Bank Of Canada cut their price target on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. UBS Group lowered their price objective on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.50.

Kayne Anderson BDC Stock Performance

Shares of KBDC stock opened at $12.38 on Tuesday. The stock has a fifty day moving average price of $13.17 and a 200 day moving average price of $13.81. The stock has a market cap of $817.25 million, a PE ratio of 11.35 and a beta of 0.34. Kayne Anderson BDC has a 1 year low of $12.32 and a 1 year high of $15.87. 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 (NYSE:KBDC) last posted its earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $55.70 million for the quarter, compared to the consensus estimate of $51.86 million. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%. Sell-side analysts forecast that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.9%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is currently 146.79%.

Insider Transactions at Kayne Anderson BDC

In related news, Director James Robo bought 146,755 shares of Kayne Anderson BDC stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average price of $13.03 per share, with a total value of $1,912,217.65. Following the purchase, the director owned 766,716 shares in the company, valued at $9,990,309.48. This represents a 23.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 766,716 shares of company stock valued at $10,002,000. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds have recently bought and sold shares of KBDC. Bank of America Corp DE increased its position in Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after purchasing an additional 143,854 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 purchasing an additional 73,322 shares during the last quarter. HB Wealth Management LLC raised its stake in Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after purchasing an additional 44,848 shares during the last quarter. Requisite Capital Management LLC raised its stake in Kayne Anderson BDC by 6.5% in the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock valued at $8,987,000 after purchasing an additional 39,385 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Kayne Anderson BDC in the 1st quarter valued at about $730,000.

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.