Wells Fargo & Company Issues Pessimistic Forecast for Kayne Anderson BDC (NYSE:KBDC) Stock Price

Key Points

• Wells Fargo cut its price target on Kayne Anderson BDC from $14 to $13 and kept an “equal weight” rating; the target implies about 4.1% upside from the share price cited in the report. Analysts’ consensus rating is “Hold,” with a $14.25 target.
• Kayne Anderson BDC reported quarterly earnings of $0.46 per share, beating the $0.39 consensus estimate, and revenue of $58.96 million, above estimates of $57.35 million.
• Director James Robo bought 340,000 shares for about $4.43 million, and insiders acquired roughly $10 million of shares over the past 90 days.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $14.00 to $13.00 in a report released on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 4.14% from the company's current price.

Several other research firms have also issued reports on KBDC. UBS Group cut 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. Zacks Research raised shares of Kayne Anderson BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada decreased their price target on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Kayne Anderson BDC presently has a consensus rating of "Hold" and a consensus target price of $14.25.

Kayne Anderson BDC Stock Up 0.6%

NYSE KBDC traded up $0.07 during midday trading on Monday, hitting $12.48. 40,554 shares of the company traded hands, compared to its average volume of 347,933. Kayne Anderson BDC has a 52 week low of $12.14 and a 52 week high of $15.87. The company's 50-day simple moving average is $12.88 and its 200-day simple moving average is $13.75. The company has a market cap of $824.35 million, a PE ratio of 14.85 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 quarterly earnings results on Thursday, November 5th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. The firm had revenue of $58.96 million during the quarter, compared to analyst estimates of $57.35 million. Kayne Anderson BDC had a return on equity of 10.78% and a net margin of 24.17%. As a group, equities research analysts forecast that Kayne Anderson BDC will post 1.61 earnings per share for the current year.

Insider Transactions at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director James Robo purchased 340,000 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, September 16th. The shares were acquired at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the completion of the transaction, the director owned 400,000 shares in the company, valued at approximately $5,216,000. This trade represents a 566.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 766,716 shares of company stock valued at $10,002,000 over the last 90 days. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Kayne Anderson BDC

A number of institutional investors have recently made changes to their positions in KBDC. Bank of America Corp DE boosted its holdings in Kayne Anderson BDC by 2.7% in the first 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. Russell Investments Group Ltd. grew its stake in shares of Kayne Anderson BDC by 2.9% during the third quarter. Russell Investments Group Ltd. now owns 819,478 shares of the company's stock worth $10,293,000 after acquiring an additional 23,154 shares during the last quarter. Requisite Capital Management LLC grew its stake in shares of 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 acquiring an additional 39,385 shares during the last quarter. Columbus Macro LLC grew its stake in shares of Kayne Anderson BDC by 6.1% during the third quarter. Columbus Macro LLC now owns 647,693 shares of the company's stock worth $8,135,000 after acquiring an additional 36,957 shares during the last quarter. Finally, HB Wealth Management LLC increased its holdings 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 valued at $3,791,000 after acquiring an additional 44,848 shares in the last quarter.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc is a business development company that invests in privately held, middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

Its investment activities primarily consist of loans and other debt investments, including senior secured, unitranche and subordinated debt. Kayne Anderson BDC may also make equity and equity-related investments in portfolio companies.

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