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

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

Wall Street Analysts Forecast Growth

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

Kayne Anderson BDC Stock Down 1.9%

The stock’s fifty day moving average price is $13.12 and its 200 day moving average price is $13.79. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. The stock has a market cap of $805.29 million, a P/E ratio of 11.17 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $51.86 million. As a group, research analysts forecast that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 13.1%. Kayne Anderson BDC’s dividend payout ratio (DPR) is presently 146.79%.

Insider Transactions at Kayne Anderson BDC

In other news, Director James Robo acquired 146,755 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was purchased at an average cost of $13.03 per share, for a total transaction of $1,912,217.65. Following the acquisition, the director owned 766,716 shares of the company’s stock, valued at $9,990,309.48. This trade represents a 23.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 766,716 shares of company stock worth $10,002,000 over the last three months. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC boosted its stake in shares of Kayne Anderson BDC by 2.8% in the 3rd quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock valued at $966,000 after purchasing an additional 2,077 shares in the last quarter. TT Capital Management LLC raised its position in Kayne Anderson BDC by 30.5% in the 3rd quarter. TT Capital Management LLC now owns 26,100 shares of the company’s stock worth $328,000 after purchasing an additional 6,100 shares during the period. Baird Financial Group Inc. purchased a new position in Kayne Anderson BDC in the 2nd quarter worth $147,000. Sovereign Financial Group Inc. purchased a new position in Kayne Anderson BDC in the 1st quarter worth $155,000. Finally, Squarepoint Ops LLC lifted its stake in Kayne Anderson BDC by 126.1% in the second quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after purchasing an additional 12,663 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.