Kayne Anderson BDC (NYSE:KBDC) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Kayne Anderson BDC (NYSE:KBDC) issued its quarterly earnings results on Monday. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.09), FiscalAI reports. The firm had revenue of ($25.53) million during the quarter, compared to analysts’ expectations of $56.48 million. Kayne Anderson BDC had a return on equity of 10.40% and a net margin of 46.55%.

Kayne Anderson BDC Price Performance

NYSE:KBDC traded up $0.24 during trading hours on Monday, hitting $13.66. 448,225 shares of the stock traded hands, compared to its average volume of 370,918. The company has a market cap of $934.34 million, a price-to-earnings ratio of 9.05 and a beta of 0.24. Kayne Anderson BDC has a 1 year low of $13.06 and a 1 year high of $17.38. The stock has a 50 day moving average price of $14.33 and a 200 day moving average price of $14.52. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.00.

Analysts Set New Price Targets

KBDC has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Kayne Anderson BDC from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Keefe, Bruyette & Woods decreased their target price on shares of Kayne Anderson BDC from $16.50 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Royal Bank Of Canada cut their price target on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC increased its position in Kayne Anderson BDC by 16.0% in the fourth quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock worth $146,000 after purchasing an additional 1,407 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Kayne Anderson BDC by 14.6% during the third quarter. BNP Paribas Financial Markets now owns 17,265 shares of the company’s stock valued at $230,000 after purchasing an additional 2,203 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Kayne Anderson BDC by 70.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after buying an additional 4,261 shares in the last quarter. Global View Capital Management LLC grew its stake in shares of Kayne Anderson BDC by 50.0% in the 2nd quarter. Global View Capital Management LLC now owns 15,468 shares of the company’s stock worth $236,000 after buying an additional 5,156 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Kayne Anderson BDC by 15.1% in the 2nd quarter. Invesco Ltd. now owns 45,063 shares of the company’s stock worth $688,000 after buying an additional 5,916 shares during the last quarter.

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.