Kayne Anderson BDC (NYSE:KBDC) Director James Robo Purchases 94,120 Shares

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo purchased 94,120 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average price of $13.08 per share, for a total transaction of $1,231,089.60. Following the purchase, the director owned 514,961 shares in the company, valued at $6,735,689.88. This represents a 22.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Kayne Anderson BDC Stock Down 0.6%

KBDC stock traded down $0.07 during trading on Wednesday, hitting $13.06. 352,512 shares of the stock traded hands, compared to its average volume of 335,850. Kayne Anderson BDC, Inc. has a 1 year low of $12.88 and a 1 year high of $15.87. The firm’s 50 day moving average is $13.46 and its two-hundred day 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. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25.

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

Kayne Anderson BDC Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Zacks Research downgraded Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada lowered their price target on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. UBS Group dropped their price objective on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.50.

Institutional Investors Weigh In On Kayne Anderson BDC

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of Kayne Anderson BDC by 2.7% in the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after buying an additional 143,854 shares during the last quarter. Renaissance Technologies LLC increased its position in Kayne Anderson BDC by 101.8% during the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after acquiring an additional 73,322 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Kayne Anderson BDC by 19.1% in the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after acquiring an additional 44,848 shares during the period. Closed End Fund Advisors Inc. bought a new position in Kayne Anderson BDC in the fourth quarter valued at about $1,048,000. Finally, Requisite Capital Management LLC boosted its position in Kayne Anderson BDC by 6.5% in 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 during 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.