Centric Wealth Management Grows Stock Position in Kayne Anderson BDC, Inc. $KBDC

Key Points

• Centric Wealth Management increased its stake in Kayne Anderson BDC, Inc. by 93.1%, now holding approximately 0.19% of the company worth $2.23 million.
• The company recently missed consensus earnings estimates, reporting $0.40 EPS against an expected $0.41 EPS, but achieved revenues of $57.30 million, which surpassed forecasts.
• Kayne Anderson BDC plans to pay a quarterly dividend of $0.40 per share, resulting in an annualized yield of 10.6%, with investors needing to be on record by September 30th.

Centric Wealth Management increased its holdings in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 93.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,620 shares of the company's stock after acquiring an additional 66,350 shares during the quarter. Centric Wealth Management owned approximately 0.19% of Kayne Anderson BDC worth $2,232,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Bank of America Corp DE increased its holdings in shares of Kayne Anderson BDC by 4,201.5% in the 4th quarter. Bank of America Corp DE now owns 989,008 shares of the company's stock valued at $16,358,000 after acquiring an additional 966,016 shares during the period. Sage Mountain Advisors LLC increased its holdings in shares of Kayne Anderson BDC by 166.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 541,109 shares of the company's stock valued at $8,777,000 after acquiring an additional 338,043 shares during the period. Requisite Capital Management LLC increased its holdings in shares of Kayne Anderson BDC by 10.9% in the 1st quarter. Requisite Capital Management LLC now owns 365,783 shares of the company's stock valued at $6,083,000 after acquiring an additional 35,843 shares during the period. HB Wealth Management LLC increased its holdings in shares of Kayne Anderson BDC by 79.3% in the 1st quarter. HB Wealth Management LLC now owns 172,445 shares of the company's stock valued at $2,797,000 after acquiring an additional 76,250 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in shares of Kayne Anderson BDC by 0.6% in the 1st quarter. Confluence Investment Management LLC now owns 110,635 shares of the company's stock valued at $1,794,000 after acquiring an additional 678 shares during the period.

Kayne Anderson BDC Price Performance

Shares of NYSE KBDC traded down $0.08 during trading on Tuesday, hitting $15.08. 187,926 shares of the company were exchanged, compared to its average volume of 132,724. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 8.42 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 fifty day moving average price is $15.52 and its 200 day moving average price is $15.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.45 and a quick ratio of 1.45.

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

Kayne Anderson BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a $0.40 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 10.6%. Kayne Anderson BDC's payout ratio is currently 94.67%.

Wall Street Analyst Weigh In

KBDC has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $17.00 target price on shares of Kayne Anderson BDC in a report on Monday, May 19th. UBS Group lifted 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 equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Kayne Anderson BDC presently has a consensus rating of "Moderate Buy" and an average price target of $16.50.

Kayne Anderson BDC 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.