Kayne Anderson BDC (NYSE:KBDC) Director James Robo Buys 20,841 Shares of Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo purchased 20,841 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was bought at an average price of $13.13 per share, for a total transaction of $273,642.33. Following the transaction, the director directly owned 420,841 shares in the company, valued at $5,525,642.33. This trade represents a 5.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kayne Anderson BDC Stock Performance

Shares of KBDC stock traded down $0.07 during midday trading on Wednesday, hitting $13.06. The company had a trading volume of 352,512 shares, compared to its average volume of 335,850. Kayne Anderson BDC, Inc. has a 52-week low of $12.88 and a 52-week high of $15.87. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25. The company’s 50 day simple moving average is $13.46 and its 200 day simple moving average is $13.94. The stock has a market cap of $862.81 million, a price-to-earnings ratio of 11.99 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%.The firm had revenue of $19.27 million during the quarter, compared to the consensus estimate of $51.86 million. Research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 12.2%. Kayne Anderson BDC’s payout ratio is presently 146.79%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KBDC shares. Zacks Research cut shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Wells Fargo & Company reissued an “equal weight” rating and issued a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Royal Bank Of Canada decreased their price target 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. 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 research report on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.50.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently modified their holdings of KBDC. Bank of America Corp DE boosted its stake in shares of Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after acquiring an additional 143,854 shares in the last quarter. Renaissance Technologies LLC increased its stake in Kayne Anderson BDC by 101.8% in the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after purchasing an additional 73,322 shares in the last quarter. HB Wealth Management LLC raised its holdings in Kayne Anderson BDC by 19.1% during the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after purchasing an additional 44,848 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in Kayne Anderson BDC during the fourth quarter worth $1,048,000. Finally, Requisite Capital Management LLC boosted its position in Kayne Anderson BDC by 6.5% during the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock worth $8,987,000 after purchasing an additional 39,385 shares in the last quarter.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.