Kayne Anderson BDC (NYSE:KBDC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Kayne Anderson BDC (NYSE:KBDC) announced its quarterly earnings data on Monday. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02, Zacks reports. Kayne Anderson BDC had a return on equity of 10.47% and a net margin of 37.30%.The business had revenue of $19.27 million during the quarter, compared to analyst estimates of $51.86 million.

Kayne Anderson BDC Price Performance

NYSE KBDC opened at $14.12 on Tuesday. The stock’s 50-day moving average price is $13.84 and its two-hundred day moving average price is $14.09. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04. The company has a market cap of $936.86 million, a PE ratio of 11.03 and a beta of 0.31. Kayne Anderson BDC has a 1 year low of $13.06 and a 1 year high of $15.87.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.3%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is presently 125.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. UBS Group raised their price objective on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC raised its holdings in shares of Kayne Anderson BDC by 16.0% during the fourth quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock valued at $146,000 after acquiring an additional 1,407 shares during the period. Brevan Howard Capital Management LP purchased a new stake in shares of Kayne Anderson BDC in the third quarter valued at $156,000. Osaic Holdings Inc. boosted its position in shares of Kayne Anderson BDC by 70.9% in the second quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after buying an additional 4,261 shares during the period. Centiva Capital LP purchased a new position in shares of Kayne Anderson BDC during the third quarter valued at $172,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Kayne Anderson BDC by 341.2% during the first quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock valued at $173,000 after buying an additional 8,343 shares in the last quarter.

About Kayne Anderson BDC

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.