Kayne Anderson BDC (NYSE:KBDC) Reaches New 12-Month Low – What’s Next?

Kayne Anderson BDC, Inc. (NYSE:KBDC) reached a new 52-week low on Monday. The company traded as low as $12.26 and last traded at $12.2140, with a volume of 15,240 shares trading hands. The stock had previously closed at $12.43.

Analysts Set New Price Targets

KBDC has been the subject of a number of research reports. Royal Bank Of Canada cut their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. UBS Group decreased their price objective on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Finally, Zacks Research upgraded Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Kayne Anderson BDC currently has a consensus rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Trading Up 1.5%

The stock has a market capitalization of $823.52 million, a P/E ratio of 11.44 and a beta of 0.34. The stock’s fifty day moving average price is $13.05 and its two-hundred day moving average price is $13.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16.

Kayne Anderson BDC (NYSE:KBDC) last released its earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The company had revenue of $55.70 million for the quarter, compared to analyst estimates of $51.86 million. Equities research analysts forecast that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 12.8%. Kayne Anderson BDC’s payout ratio is currently 146.79%.

Insider Buying and Selling at Kayne Anderson BDC

In related news, Director James Robo bought 146,755 shares of the stock in a transaction dated Monday, September 28th. The stock was bought at an average price of $13.03 per share, with a total value of $1,912,217.65. Following the purchase, the director owned 766,716 shares in the company, valued at approximately $9,990,309.48. The trade was a 23.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders bought 766,716 shares of company stock valued at $10,002,000. Insiders own 2.90% of the company’s stock.

Institutional Trading of Kayne Anderson BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock valued at $76,355,000 after buying an additional 143,854 shares during the last quarter. Columbus Macro LLC boosted its position in Kayne Anderson BDC by 6.1% during the 3rd quarter. Columbus Macro LLC now owns 647,693 shares of the company’s stock valued at $8,135,000 after buying an additional 36,957 shares during the period. Requisite Capital Management LLC grew its holdings in Kayne Anderson BDC by 6.5% in the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock worth $8,987,000 after acquiring an additional 39,385 shares during the last quarter. HB Wealth Management LLC grew its holdings in Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after acquiring an additional 44,848 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Kayne Anderson BDC by 101.8% in the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock worth $1,994,000 after acquiring an additional 73,322 shares during the last quarter.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc is a business development company that provides financing to privately held U.S. middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing in the debt and equity securities of companies that may have limited access to traditional financing.

Its investment activities primarily include providing secured loans and other forms of credit, along with potential investments in subordinated debt, preferred equity and common equity.