Kayne Anderson BDC (NYSE:KBDC) Reaches New 12-Month Low – Here’s Why

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) hit a new 52-week low during trading on Wednesday . The company traded as low as $13.04 and last traded at $13.0460, with a volume of 65094 shares trading hands. The stock had previously closed at $13.19.

Analyst Ratings Changes

Several research analysts have recently weighed in on KBDC shares. Royal Bank Of Canada lowered their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. UBS Group dropped 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 report on Tuesday, September 1st. Zacks Research downgraded shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Stock Down 1.0%

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a fifty day simple moving average of $13.56 and a 200-day simple moving average of $13.98. The firm has a market cap of $854.89 million, a price-to-earnings ratio of 11.88 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings data on Monday, August 10th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. As a group, sell-side analysts expect that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 12.4%. Kayne Anderson BDC’s dividend payout ratio is 146.79%.

Institutional Investors Weigh In On Kayne Anderson BDC

Several hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC raised its position in shares of Kayne Anderson BDC by 16.0% in the fourth quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock valued at $146,000 after buying an additional 1,407 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Kayne Anderson BDC by 14.6% in the third quarter. BNP Paribas Financial Markets now owns 17,265 shares of the company’s stock valued at $230,000 after buying an additional 2,203 shares during the period. Osaic Holdings Inc. grew its position in Kayne Anderson BDC by 70.9% during the second quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after buying an additional 4,261 shares in the last quarter. Global View Capital Management LLC grew its position in Kayne Anderson BDC by 50.0% during the second quarter. Global View Capital Management LLC now owns 15,468 shares of the company’s stock worth $236,000 after buying an additional 5,156 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Kayne Anderson BDC by 15.1% during the 2nd 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.

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.