Kayne Anderson BDC (NYSE:KBDC) Stock Price Target Lowered at UBS Group

Kayne Anderson BDC (NYSE:KBDC) had its target price decreased by equities researchers at UBS Group from $13.50 to $12.50 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s price target would indicate a potential downside of 2.38% from the company’s current price.

A number of other research firms have also weighed in on KBDC. Keefe, Bruyette & Woods dropped their price target on shares of Kayne Anderson BDC from $15.00 to $14.50 and set an “outperform” rating for the company in a research report on Monday. Wells Fargo & Company decreased their price objective on shares of Kayne Anderson BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday. Royal Bank Of Canada lowered their target price 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. Finally, Zacks Research raised shares of Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Kayne Anderson BDC currently has an average rating of “Hold” and a consensus target price of $13.75.

Kayne Anderson BDC Stock Up 3.2%

Shares of NYSE KBDC traded up $0.40 on Monday, reaching $12.80. 557,049 shares of the company’s stock traded hands, compared to its average volume of 350,005. Kayne Anderson BDC has a 12 month low of $12.14 and a 12 month high of $15.87. The business’s 50 day simple moving average is $12.88 and its two-hundred day simple moving average is $13.75. The company has a market cap of $845.62 million, a price-to-earnings ratio of 15.24 and a beta of 0.32. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Kayne Anderson BDC had a return on equity of 10.78% and a net margin of 24.17%. The business had revenue of $58.96 million during the quarter, compared to analysts’ expectations of $57.35 million. As a group, equities research analysts forecast that Kayne Anderson BDC will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James Robo bought 340,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was bought at an average price of $13.04 per share, with a total value of $4,433,600.00. Following the completion of the purchase, the director directly owned 400,000 shares in the company, valued at $5,216,000. This represents a 566.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 766,716 shares of company stock valued at $10,002,000 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KBDC. Baird Financial Group Inc. purchased a new stake in shares of Kayne Anderson BDC in the 2nd quarter valued at $147,000. Squarepoint Ops LLC boosted its holdings in Kayne Anderson BDC by 126.1% during the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock valued at $307,000 after acquiring an additional 12,663 shares during the period. TT Capital Management LLC grew 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 valued at $328,000 after acquiring an additional 6,100 shares in the last quarter. Sei Investments Co. acquired a new position in Kayne Anderson BDC in the 1st quarter valued at about $730,000. Finally, Royal Bank of Canada increased its stake in Kayne Anderson BDC by 62.8% during the first quarter. Royal Bank of Canada now owns 67,563 shares of the company’s stock worth $927,000 after purchasing an additional 26,066 shares during the period.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc is a business development company that invests in privately held, middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

Its investment activities primarily consist of loans and other debt investments, including senior secured, unitranche and subordinated debt. Kayne Anderson BDC may also make equity and equity-related investments in portfolio companies.