Kayne Anderson BDC, Inc. (NYSE:KBDC – Get Free Report) Director James Robo acquired 94,120 shares of Kayne Anderson BDC stock in a transaction that occurred on Wednesday, September 23rd. The stock was purchased at an average cost of $13.08 per share, for a total transaction of $1,231,089.60. Following the completion of the transaction, the director directly owned 514,961 shares in the company, valued at $6,735,689.88. This trade represents a 22.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kayne Anderson BDC Stock Up 0.3%
Shares of NYSE KBDC opened at $13.04 on Friday. Kayne Anderson BDC, Inc. has a 1 year low of $12.88 and a 1 year high of $15.87. The firm has a 50-day simple moving average of $13.42 and a two-hundred day simple moving average of $13.92. The company has a market cap of $860.83 million, a P/E ratio of 11.96 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 – Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $51.86 million. Research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current year.
Kayne Anderson BDC Dividend Announcement
Institutional Trading of Kayne Anderson BDC
Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings 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 valued at $76,355,000 after purchasing an additional 143,854 shares during the last quarter. Renaissance Technologies LLC increased its position in Kayne Anderson BDC by 101.8% during the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after buying an additional 73,322 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new stake in Kayne Anderson BDC in the fourth quarter worth about $1,048,000. Sei Investments Co. purchased a new stake in shares of Kayne Anderson BDC during the first quarter worth about $730,000. Finally, HB Wealth Management LLC grew its stake in shares of 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 acquiring an additional 44,848 shares during the last quarter.
Wall Street Analysts Forecast Growth
KBDC has been the topic of a number of recent analyst reports. UBS Group reduced their target price on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. Royal Bank Of Canada cut their price target on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Finally, Zacks Research downgraded shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.50.
Check Out Our Latest Stock Report on KBDC
Kayne Anderson BDC Company Profile
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.
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