Callodine Capital Management LP Sells 108,259 Shares of Kayne Anderson BDC, Inc. $KBDC

Key Points

• Callodine Capital Management reduced its stake in Kayne Anderson BDC by 27.1% in the first quarter, selling 108,259 shares and leaving it with 291,741 shares worth about $4.0 million.
• Kayne Anderson BDC beat earnings expectations in its latest quarter, reporting $0.43 EPS versus the $0.41 estimate, though revenue came in below analyst forecasts.
• The company recently paid a $0.40 quarterly dividend, equating to an annualized yield of 11.9%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $15.12.

Callodine Capital Management LP cut its stake in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 27.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 291,741 shares of the company's stock after selling 108,259 shares during the quarter. Callodine Capital Management LP owned approximately 0.44% of Kayne Anderson BDC worth $4,003,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of Kayne Anderson BDC during the first quarter worth about $228,000. Goldman Sachs Group Inc. increased its position in Kayne Anderson BDC by 119.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,285 shares of the company's stock valued at $491,000 after purchasing an additional 16,501 shares during the period. Acadian Asset Management LLC increased its position in Kayne Anderson BDC by 341.2% during 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 period. JPMorgan Chase & Co. raised its holdings in Kayne Anderson BDC by 294.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,301 shares of the company's stock worth $295,000 after purchasing an additional 14,406 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Kayne Anderson BDC by 15.1% during the 2nd quarter. Invesco Ltd. now owns 45,063 shares of the company's stock worth $688,000 after purchasing an additional 5,916 shares during the last quarter.

Kayne Anderson BDC Trading Up 0.8%

NYSE KBDC opened at $13.46 on Friday. The stock has a market capitalization of $893.14 million, a P/E ratio of 10.52 and a beta of 0.30. The business has a 50 day simple moving average of $14.06 and a 200 day simple moving average of $14.17. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.15 and a quick ratio of 1.15. Kayne Anderson BDC, Inc. has a one year low of $13.06 and a one year high of $16.06.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $24.86 million for the quarter, compared to analyst estimates of $52.40 million. Kayne Anderson BDC had a return on equity of 10.47% and a net margin of 37.30%. Research analysts expect that Kayne Anderson BDC, Inc. will post 1.62 earnings per share for the current year.

Kayne Anderson BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date was Tuesday, June 30th. Kayne Anderson BDC's payout ratio is presently 125.00%.

Analyst Ratings Changes

KBDC has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. UBS Group lifted their target price on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.12.

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.

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