Keefe, Bruyette & Woods Has Lowered Expectations for Kayne Anderson BDC (NYSE:KBDC) Stock Price

Kayne Anderson BDC (NYSE:KBDC) had its target price reduced by equities researchers at Keefe, Bruyette & Woods from $15.00 to $14.50 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods‘s price target suggests a potential upside of 14.40% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Royal Bank Of Canada cut their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Wells Fargo & Company reduced their target price on Kayne Anderson BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday. UBS Group decreased their target price on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Finally, Zacks Research raised Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.00.

Kayne Anderson BDC Trading Up 2.1%

Shares of NYSE KBDC traded up $0.27 during trading hours on Monday, hitting $12.68. The company’s stock had a trading volume of 241,072 shares, compared to its average volume of 348,886. 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 stock has a market cap of $837.03 million, a price-to-earnings ratio of 15.07 and a beta of 0.32. Kayne Anderson BDC has a 12 month low of $12.14 and a 12 month high of $15.87. The business has a 50-day simple moving average of $12.88 and a 200-day simple moving average of $13.75.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The company had revenue of $58.96 million for the quarter, compared to the consensus estimate of $57.35 million. Kayne Anderson BDC had a return on equity of 10.78% and a net margin of 24.17%. On average, analysts anticipate that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James Robo acquired 340,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was acquired at an average price of $13.04 per share, with a total value of $4,433,600.00. Following the completion of the transaction, the director owned 400,000 shares of the company’s stock, valued at $5,216,000. This represents a 566.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 766,716 shares of company stock worth $10,002,000 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently modified their holdings of KBDC. Confluence Investment Management LLC increased its stake in shares of Kayne Anderson BDC by 2.8% in the 3rd quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock worth $966,000 after acquiring an additional 2,077 shares in the last quarter. TT Capital Management LLC boosted its stake in Kayne Anderson BDC by 30.5% during the third quarter. TT Capital Management LLC now owns 26,100 shares of the company’s stock worth $328,000 after acquiring an additional 6,100 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in Kayne Anderson BDC in the second quarter worth about $147,000. Squarepoint Ops LLC grew its holdings in Kayne Anderson BDC by 126.1% in 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. Finally, Russell Investments Group Ltd. grew its holdings in Kayne Anderson BDC by 2.9% in the third quarter. Russell Investments Group Ltd. now owns 819,478 shares of the company’s stock worth $10,293,000 after purchasing an additional 23,154 shares during the period.

About Kayne Anderson BDC

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.