Kayne Anderson BDC (NYSE:KBDC) Stock Moved Up to Hold by Zacks Research

Kayne Anderson BDC (NYSE:KBDC) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other equities analysts have also issued reports on the stock. UBS Group reduced their target price on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. Royal Bank Of Canada lowered their price target on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Kayne Anderson BDC has an average rating of “Hold” and a consensus target price of $14.50.

Kayne Anderson BDC Stock Down 0.6%

Shares of NYSE KBDC opened at $12.38 on Tuesday. Kayne Anderson BDC has a 12-month low of $12.32 and a 12-month high of $15.87. The firm’s 50-day simple moving average is $13.17 and its 200 day simple moving average is $13.81. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. The company has a market cap of $817.25 million, a price-to-earnings ratio of 11.35 and a beta of 0.34.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $55.70 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%. On average, research analysts expect that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kayne Anderson BDC news, Director James Robo bought 146,755 shares of the company’s stock in a transaction on Monday, September 28th. The stock was bought at an average price of $13.03 per share, for a total transaction of $1,912,217.65. Following the transaction, the director owned 766,716 shares of the company’s stock, valued at approximately $9,990,309.48. The trade was a 23.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have acquired 766,716 shares of company stock worth $10,002,000. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Kayne Anderson BDC by 2.7% during the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after purchasing an additional 143,854 shares during the period. Requisite Capital Management LLC increased its holdings in Kayne Anderson BDC by 6.5% in the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock valued at $8,987,000 after purchasing an additional 39,385 shares during the last quarter. Columbus Macro LLC increased its holdings in Kayne Anderson BDC by 6.1% in the third quarter. Columbus Macro LLC now owns 647,693 shares of the company’s stock valued at $8,135,000 after purchasing an additional 36,957 shares during the last quarter. HB Wealth Management LLC lifted its stake in Kayne Anderson BDC by 19.1% in the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after buying an additional 44,848 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Kayne Anderson BDC by 101.8% in the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after buying an additional 73,322 shares during the period.

About Kayne Anderson BDC

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.