Wells Fargo & Company Cuts Kayne Anderson BDC (NYSE:KBDC) Price Target to $14.00

Kayne Anderson BDC (NYSE:KBDC) had its target price dropped by Wells Fargo & Company from $15.00 to $14.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 0.86% from the company’s current price.

Several other research firms also recently weighed in on KBDC. Royal Bank Of Canada dropped their price target on Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Keefe, Bruyette & Woods lowered their target price on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

Kayne Anderson BDC Price Performance

KBDC stock traded up $0.04 during trading on Wednesday, reaching $13.88. The company’s stock had a trading volume of 155,545 shares, compared to its average volume of 367,123. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.00. The company’s fifty day moving average is $14.29 and its 200-day moving average is $14.50. The company has a market capitalization of $949.39 million, a P/E ratio of 10.44 and a beta of 0.23. Kayne Anderson BDC has a 1 year low of $13.06 and a 1 year high of $16.98.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Kayne Anderson BDC had a return on equity of 10.13% and a net margin of 39.74%.The firm had revenue of ($25.53) million during the quarter, compared to analyst estimates of $56.48 million. On average, research analysts expect that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KBDC. Arcus Capital Partners LLC increased its position in Kayne Anderson BDC by 8.9% in the third quarter. Arcus Capital Partners LLC now owns 13,475 shares of the company’s stock worth $179,000 after purchasing an additional 1,100 shares during the last quarter. Advisory Services Network LLC lifted its position in 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 purchasing an additional 1,407 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Kayne Anderson BDC by 14.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 17,265 shares of the company’s stock worth $230,000 after buying an additional 2,203 shares in the last quarter. Security National Bank increased its holdings in shares of Kayne Anderson BDC by 205.4% in the 3rd quarter. Security National Bank now owns 5,057 shares of the company’s stock worth $67,000 after buying an additional 3,401 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of Kayne Anderson BDC by 70.9% during the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock valued at $157,000 after buying an additional 4,261 shares in the last quarter.

Kayne Anderson BDC Company Profile

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.