Kayne Anderson BDC, Inc. $KBDC Stake Reduced by Requisite Capital Management LLC

Requisite Capital Management LLC cut its stake in Kayne Anderson BDC, Inc. (NYSE:KBDC) by 10.6% during the 4th quarter, HoldingsChannel reports. The firm owned 676,459 shares of the company’s stock after selling 80,496 shares during the quarter. Kayne Anderson BDC accounts for about 1.9% of Requisite Capital Management LLC’s portfolio, making the stock its 10th largest position. Requisite Capital Management LLC’s holdings in Kayne Anderson BDC were worth $9,957,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Koch Inc. purchased a new position in Kayne Anderson BDC in the second quarter valued at about $185,887,000. State of Michigan Retirement System purchased a new position in Kayne Anderson BDC in the fourth quarter valued at about $94,036,000. Bank of America Corp DE raised its position in Kayne Anderson BDC by 13.4% in the third quarter. Bank of America Corp DE now owns 5,211,124 shares of the company’s stock valued at $69,412,000 after purchasing an additional 614,393 shares during the period. Pathstone Holdings LLC raised its position in Kayne Anderson BDC by 612.8% in the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock valued at $19,261,000 after purchasing an additional 1,243,181 shares during the period. Finally, Sage Mountain Advisors LLC raised its position in Kayne Anderson BDC by 13.8% in the third quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company’s stock valued at $14,099,000 after purchasing an additional 128,061 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have commented on KBDC. Keefe, Bruyette & Woods cut their price objective on Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. UBS Group lifted their target price on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Wells Fargo & Company lifted their target price on Kayne Anderson BDC from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.38.

Insider Activity

In other Kayne Anderson BDC news, Director George E. Marucci, Jr. bought 9,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $13.74 per share, with a total value of $123,660.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $137,400. The trade was a 900.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

Kayne Anderson BDC Stock Down 0.2%

Shares of NYSE KBDC opened at $14.67 on Monday. Kayne Anderson BDC, Inc. has a 1 year low of $13.06 and a 1 year high of $16.40. The firm has a market cap of $973.02 million, a price-to-earnings ratio of 11.46 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15. The stock’s 50-day simple moving average is $14.23 and its 200-day simple moving average is $14.45.

Kayne Anderson BDC (NYSE:KBDC) last announced its earnings results on Monday, May 11th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Kayne Anderson BDC had a return on equity of 10.47% and a net margin of 37.30%.The business had revenue of $24.86 million for the quarter, compared to analyst estimates of $52.40 million. As a group, equities analysts anticipate that Kayne Anderson BDC, Inc. will post 1.6 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Kayne Anderson BDC’s payout ratio is presently 125.00%.

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.