Closed End Fund Advisors Inc. Invests $1.05 Million in Kayne Anderson BDC, Inc. $KBDC

Closed End Fund Advisors Inc. acquired a new position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 73,202 shares of the company’s stock, valued at approximately $1,048,000. Closed End Fund Advisors Inc. owned 0.11% of Kayne Anderson BDC at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AG Asset Advisory LLC purchased a new stake in Kayne Anderson BDC in the third quarter worth about $2,708,000. UBS Group AG grew its holdings in Kayne Anderson BDC by 265.0% in the fourth quarter. UBS Group AG now owns 576,812 shares of the company’s stock worth $8,260,000 after purchasing an additional 418,789 shares during the period. State of Michigan Retirement System purchased a new stake in Kayne Anderson BDC in the fourth quarter worth about $94,036,000. Activest Wealth Management purchased a new stake in Kayne Anderson BDC in the fourth quarter worth about $2,984,000. Finally, MQS Management LLC purchased a new stake in Kayne Anderson BDC in the third quarter worth about $607,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group upped 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. Keefe, Bruyette & Woods cut their price objective on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, Wells Fargo & Company upped their target price on shares of Kayne Anderson BDC from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.38.

Kayne Anderson BDC Stock Down 1.4%

Shares of Kayne Anderson BDC stock opened at $14.33 on Friday. The company has a market cap of $950.80 million, a price-to-earnings ratio of 11.20 and a beta of 0.25. The company’s 50 day moving average is $14.47 and its 200 day moving average is $14.47. Kayne Anderson BDC, Inc. has a twelve month low of $13.06 and a twelve month high of $16.28. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.04.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $24.86 million for the quarter, compared to the consensus estimate of $52.40 million. Kayne Anderson BDC had a net margin of 37.30% and a return on equity of 10.47%. Research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.62 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 11.2%. Kayne Anderson BDC’s dividend payout ratio is 125.00%.

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.