Kayne Anderson BDC (NYSE:KBDC) Director Acquires $4,433,600.00 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo bought 340,000 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the transaction, the director owned 400,000 shares of the company’s stock, valued at $5,216,000. This trade represents a 566.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kayne Anderson BDC Stock Performance

Shares of KBDC stock traded up $0.05 on Wednesday, hitting $13.07. The company’s stock had a trading volume of 756,482 shares, compared to its average volume of 335,328. Kayne Anderson BDC, Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $15.87. The company has a market capitalization of $862.88 million, a PE ratio of 11.99 and a beta of 0.32. The stock’s 50 day moving average is $13.52 and its 200-day moving average is $13.96. 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 issued its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $19.27 million during the quarter, compared to analysts’ expectations of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. Equities research analysts expect that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is presently 146.79%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its holdings in Kayne Anderson BDC by 126.1% during the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after acquiring an additional 12,663 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Kayne Anderson BDC during the second quarter valued at $147,000. HB Wealth Management LLC lifted its holdings in shares of Kayne Anderson BDC by 19.1% during the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after purchasing an additional 44,848 shares during the period. Requisite Capital Management LLC lifted its holdings in shares of Kayne Anderson BDC by 6.5% during the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock worth $8,987,000 after purchasing an additional 39,385 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Kayne Anderson BDC by 46.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company’s stock worth $1,350,000 after purchasing an additional 31,444 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KBDC. 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. Zacks Research cut Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Wells Fargo & Company reiterated an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Finally, UBS Group cut their target price on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kayne Anderson BDC has an average rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.