1,738,174 Shares in Kayne Anderson BDC, Inc. $KBDC Acquired by Merit Financial Group LLC

Key Points

• Merit Financial Group LLC acquired 1,738,174 shares of Kayne Anderson BDC, Inc. valued at approximately $26.5 million, now holding a 2.45% stake in the company.
• Kayne Anderson BDC recently reported earnings per share (EPS) of $0.40 for the quarter, missing analyst expectations, despite achieving revenues of $57.3 million.
• The company announced a quarterly dividend of $0.40 per share, with a dividend yield of 11.8%, scheduled for payment on October 16th to shareholders of record by September 30th.

Merit Financial Group LLC bought a new position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,738,174 shares of the company's stock, valued at approximately $26,525,000. Merit Financial Group LLC owned 2.45% of Kayne Anderson BDC as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. increased its stake in Kayne Anderson BDC by 5.5% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 18,184 shares of the company's stock worth $277,000 after buying an additional 954 shares during the period. Magnus Financial Group LLC increased its position in shares of Kayne Anderson BDC by 4.1% in the 2nd quarter. Magnus Financial Group LLC now owns 40,861 shares of the company's stock valued at $624,000 after purchasing an additional 1,600 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Kayne Anderson BDC by 11.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 16,504 shares of the company's stock valued at $268,000 after purchasing an additional 1,690 shares during the last quarter. Accredited Investors Inc. increased its position in shares of Kayne Anderson BDC by 57.1% in the 1st quarter. Accredited Investors Inc. now owns 18,578 shares of the company's stock valued at $301,000 after purchasing an additional 6,754 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Kayne Anderson BDC by 341.2% in the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company's stock valued at $173,000 after purchasing an additional 8,343 shares during the last quarter.

Kayne Anderson BDC Trading Up 0.9%

Shares of Kayne Anderson BDC stock opened at $13.57 on Friday. The company has a fifty day simple moving average of $14.82 and a 200-day simple moving average of $15.50. Kayne Anderson BDC, Inc. has a 12-month low of $13.06 and a 12-month high of $17.99. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The stock has a market cap of $957.42 million, a price-to-earnings ratio of 8.03 and a beta of 0.14.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). Kayne Anderson BDC had a net margin of 52.99% and a return on equity of 10.90%. The company had revenue of $57.30 million during the quarter, compared to analyst estimates of $49.37 million. On average, equities analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 EPS for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 11.8%. Kayne Anderson BDC's dividend payout ratio is presently 94.67%.

Wall Street Analyst Weigh In

Separately, UBS Group increased their price objective on shares of Kayne Anderson BDC from $16.00 to $16.50 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.50.

About Kayne Anderson BDC

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.

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