Royal Bank Of Canada Has Lowered Expectations for Kayne Anderson BDC (NYSE:KBDC) Stock Price

Kayne Anderson BDC (NYSE:KBDC) had its price objective dropped by stock analysts at Royal Bank Of Canada from $16.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 10.70% from the company’s previous close.

KBDC has been the subject of several other reports. 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 note on Friday, June 12th. UBS Group upped their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Kayne Anderson BDC currently has an average rating of “Moderate Buy” and a consensus target price of $14.88.

Kayne Anderson BDC Stock Down 0.4%

KBDC traded down $0.05 on Thursday, reaching $13.55. The company’s stock had a trading volume of 84,779 shares, compared to its average volume of 326,437. The stock has a market cap of $894.84 million, a price-to-earnings ratio of 12.43 and a beta of 0.31. Kayne Anderson BDC has a 1 year low of $13.06 and a 1 year high of $15.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.15 and a quick ratio of 1.15. The business’s 50 day moving average is $13.81 and its 200 day moving average is $14.08.

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, beating analysts’ consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a return on equity of 10.51% and a net margin of 31.54%.The firm had revenue of $19.27 million during the quarter, compared to analyst estimates of $51.86 million. As a group, research analysts forecast that Kayne Anderson BDC will post 1.62 EPS for the current fiscal year.

Institutional Trading of Kayne Anderson BDC

A number of institutional investors and hedge funds have recently modified their holdings of KBDC. NewEdge Advisors LLC bought a new position in shares of Kayne Anderson BDC in the 1st quarter worth about $228,000. Goldman Sachs Group Inc. grew its position in shares of Kayne Anderson BDC by 119.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,285 shares of the company’s stock valued at $491,000 after buying an additional 16,501 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Kayne Anderson BDC by 341.2% during the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock valued at $173,000 after buying an additional 8,343 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Kayne Anderson BDC by 294.3% during the second quarter. JPMorgan Chase & Co. now owns 19,301 shares of the company’s stock worth $295,000 after acquiring an additional 14,406 shares during the period. Finally, Invesco Ltd. raised its stake in Kayne Anderson BDC by 15.1% during the second quarter. Invesco Ltd. now owns 45,063 shares of the company’s stock worth $688,000 after acquiring an additional 5,916 shares during the period.

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.