Corient Private Wealth LP Sells 193,585 Shares of Kayne Anderson BDC, Inc. $KBDC

Key Points

• Corient Private Wealth reduced its Kayne Anderson BDC stake by 51.3%, selling 193,585 shares and retaining 183,877 shares worth approximately $2.49 million. Other institutions, including Bank of America and Renaissance Technologies, increased their holdings.
• Insider sentiment was positive: Director James Robo bought 340,000 shares at an average price of $13.04, increasing his position by 566.7%. The company also declared a quarterly dividend of $0.40 per share, equating to a 12.2% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $14.50 target price. KBDC reported quarterly EPS of $0.42, exceeding expectations, while its shares recently traded at $13.14.

Corient Private Wealth LP trimmed its holdings in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 51.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 183,877 shares of the company's stock after selling 193,585 shares during the period. Corient Private Wealth LP owned approximately 0.28% of Kayne Anderson BDC worth $2,488,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. 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. Renaissance Technologies LLC increased its holdings in shares of Kayne Anderson BDC by 101.8% during the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company's stock valued at $1,994,000 after acquiring an additional 73,322 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company's stock worth $3,791,000 after purchasing an additional 44,848 shares during the last quarter. Closed End Fund Advisors Inc. bought a new position in Kayne Anderson BDC in the 4th quarter worth about $1,048,000. Finally, Requisite Capital Management LLC boosted its stake in Kayne Anderson BDC by 6.5% in the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company's stock worth $8,987,000 after purchasing an additional 39,385 shares in the last quarter.

Insider Buying and Selling at Kayne Anderson BDC

In other news, Director James Robo acquired 340,000 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, September 16th. The stock was purchased at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the completion of the purchase, the director directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on KBDC shares. Zacks Research cut shares of Kayne Anderson BDC from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 18th. Wells Fargo & Company reiterated an "equal weight" rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Royal Bank Of Canada decreased their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, August 13th. Finally, UBS Group reduced their target price on Kayne Anderson BDC from $15.00 to $13.50 and set a "neutral" rating for the company in a report on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $14.50.

Kayne Anderson BDC Stock Up 0.4%

Kayne Anderson BDC stock opened at $13.14 on Wednesday. Kayne Anderson BDC, Inc. has a one year low of $12.88 and a one year high of $15.87. The stock has a fifty day moving average of $13.46 and a 200 day moving average of $13.94. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $868.10 million, a PE ratio of 12.06 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The business had revenue of $19.27 million for the quarter, compared to analysts' expectations of $51.86 million. As a group, sell-side analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 12.2%. Kayne Anderson BDC's payout ratio is currently 146.79%.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc NYSE: KBDC is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.

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