Kayne Anderson BDC (NYSE:KBDC) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Kayne Anderson BDC (NYSE:KBDC) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

Several other brokerages have also recently commented on KBDC. Wells Fargo & Company restated 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 increased 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. Finally, Royal Bank Of Canada dropped their target price on shares of 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. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.88.

Kayne Anderson BDC Stock Performance

NYSE KBDC opened at $13.24 on Tuesday. Kayne Anderson BDC has a 1-year low of $13.06 and a 1-year high of $15.87. The company has a 50 day moving average of $13.71 and a 200-day moving average of $14.05. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. The firm has a market cap of $874.70 million, a price-to-earnings ratio of 12.15 and a beta of 0.31.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%.The business had revenue of $19.27 million for the quarter, compared to analyst estimates of $51.86 million. On average, equities analysts forecast that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.1%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s payout ratio is presently 146.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KBDC. Advisory Services Network LLC raised its holdings in Kayne Anderson BDC by 16.0% in the fourth quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock worth $146,000 after purchasing an additional 1,407 shares during the period. Sovereign Financial Group Inc. acquired a new stake in Kayne Anderson BDC during the 1st quarter worth $155,000. Brevan Howard Capital Management LP bought a new position in Kayne Anderson BDC during the third quarter worth about $156,000. Osaic Holdings Inc. grew its stake in Kayne Anderson BDC by 70.9% in the second 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 period. Finally, Centiva Capital LP bought a new stake in shares of Kayne Anderson BDC in the third quarter worth about $172,000.

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.