Accelerate Investment Advisors LLC Purchases 20,915 Shares of Kayne Anderson BDC, Inc. $KBDC

Key Points

• Accelerate Investment Advisors LLC increased its holdings in Kayne Anderson BDC by 50%, acquiring 20,915 shares and holding a total of 62,743 shares, representing around 0.09% of the company's stock worth approximately $957,000.
• Kayne Anderson BDC recently announced a quarterly dividend of $0.40, set to be paid on October 16th, 2023, with a resulting annualized dividend yield of 10.6%.
• Analysts have a consensus rating of "Moderate Buy" for Kayne Anderson BDC, with a target price ranging from $16.00 to $17.00 based on recent evaluations from UBS and Royal Bank of Canada.

Accelerate Investment Advisors LLC lifted its position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 50.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,743 shares of the company's stock after buying an additional 20,915 shares during the period. Kayne Anderson BDC comprises about 0.7% of Accelerate Investment Advisors LLC's investment portfolio, making the stock its 29th largest holding. Accelerate Investment Advisors LLC owned 0.09% of Kayne Anderson BDC worth $957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global View Capital Management LLC acquired a new position in Kayne Anderson BDC during the first quarter valued at approximately $167,000. Mesirow Financial Investment Management Inc. acquired a new position in Kayne Anderson BDC during the first quarter valued at approximately $168,000. SGL Investment Advisors Inc. acquired a new position in Kayne Anderson BDC during the first quarter valued at approximately $165,000. Acadian Asset Management LLC boosted its position in Kayne Anderson BDC by 341.2% during the first 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. Finally, Woodley Farra Manion Portfolio Management Inc. acquired a new position in Kayne Anderson BDC during the first quarter valued at approximately $204,000.

Analysts Set New Price Targets

Separately, UBS Group upped their price objective on Kayne Anderson BDC from $16.00 to $16.50 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Kayne Anderson BDC currently has an average rating of "Moderate Buy" and an average target price of $16.50.

Kayne Anderson BDC Trading Down 0.3%

KBDC traded down $0.05 during midday trading on Friday, hitting $14.30. 108,722 shares of the company were exchanged, compared to its average volume of 153,293. The firm has a market capitalization of $1.01 billion, a P/E ratio of 8.46 and a beta of 0.28. Kayne Anderson BDC, Inc. has a 1-year low of $13.93 and a 1-year high of $17.99. The firm's 50 day moving average price is $15.33 and its 200-day moving average price is $15.72. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.90.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.01). The business had revenue of $57.30 million during the quarter, compared to analyst estimates of $49.37 million. Kayne Anderson BDC had a net margin of 52.99% and a return on equity of 10.90%. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 11.2%. Kayne Anderson BDC's dividend payout ratio is 94.67%.

Kayne Anderson BDC Company Profile

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.