Kayne Anderson BDC (NYSE:KBDC) Rating Lowered to “Hold” at Wells Fargo & Company

Kayne Anderson BDC (NYSE:KBDC) was downgraded by investment analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note issued on Friday,Zacks.com reports.

KBDC has been the subject of a number of other reports. Keefe, Bruyette & Woods cut their price objective on Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. UBS Group upped their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Kayne Anderson BDC presently has an average rating of “Moderate Buy” and a consensus target price of $15.13.

Kayne Anderson BDC Price Performance

Shares of Kayne Anderson BDC stock opened at $14.46 on Friday. The stock has a market cap of $959.55 million, a P/E ratio of 11.30 and a beta of 0.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15. The stock’s fifty day moving average is $14.55 and its 200 day moving average is $14.46. Kayne Anderson BDC has a one year low of $13.06 and a one year high of $16.28.

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

Institutional Investors Weigh In On Kayne Anderson BDC

Several large investors have recently bought and sold shares of KBDC. Advisory Services Network LLC increased its holdings in shares of Kayne Anderson BDC by 16.0% in the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock worth $146,000 after buying an additional 1,407 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Kayne Anderson BDC by 70.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock valued at $157,000 after acquiring an additional 4,261 shares during the last quarter. Acadian Asset Management LLC grew its position in Kayne Anderson BDC by 341.2% in the first quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock worth $173,000 after acquiring an additional 8,343 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in Kayne Anderson BDC in the first quarter worth about $155,000. Finally, Brevan Howard Capital Management LP bought a new stake in Kayne Anderson BDC during the third quarter worth approximately $156,000.

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.