Cresset Asset Management LLC Makes New Investment in Kayne Anderson BDC, Inc. $KBDC

Key Points

• Cresset Asset Management LLC has acquired a new stake in Kayne Anderson BDC, purchasing 62,360 shares valued at approximately $1,036,000.
• Several institutional investors have significantly increased their holdings in Kayne Anderson BDC, with Bank of America raising its stake by 4,201.5% during the fourth quarter.
• Kayne Anderson BDC announced a quarterly dividend of $0.40, representing a yield of 10.7%, set to be paid on October 16th to investors of record on September 30th.

Cresset Asset Management LLC purchased a new position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 62,360 shares of the company's stock, valued at approximately $1,036,000. Cresset Asset Management LLC owned approximately 0.09% of Kayne Anderson BDC at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cerity Partners LLC purchased a new stake in shares of Kayne Anderson BDC during the 4th quarter worth approximately $170,000. BIP Wealth LLC purchased a new stake in shares of Kayne Anderson BDC during the 4th quarter worth approximately $168,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Kayne Anderson BDC during the 1st quarter worth approximately $168,000. SGL Investment Advisors Inc. purchased a new stake in shares of Kayne Anderson BDC during the 1st quarter worth approximately $165,000. Finally, Woodley Farra Manion Portfolio Management Inc. purchased a new stake in shares of Kayne Anderson BDC during the 1st quarter worth approximately $204,000.

Wall Street Analysts Forecast Growth

KBDC has been the topic of several research analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $17.00 price target on shares of Kayne Anderson BDC in a research note on Monday, May 19th. UBS Group boosted their price target on Kayne Anderson BDC from $16.00 to $16.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. 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 stock currently has an average rating of "Moderate Buy" and an average target price of $16.50.

Kayne Anderson BDC Price Performance

KBDC stock traded up $0.05 on Wednesday, reaching $15.02. The company had a trading volume of 102,217 shares, compared to its average volume of 134,599. Kayne Anderson BDC, Inc. has a 1 year low of $13.93 and a 1 year high of $17.99. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 1.45. The company's fifty day moving average is $15.56 and its 200 day moving average is $15.99. The company has a market cap of $1.06 billion, a P/E ratio of 8.89 and a beta of 0.29.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last posted its earnings results 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). 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 analysts' expectations of $49.37 million. On average, research analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Kayne Anderson BDC's dividend payout ratio is currently 94.67%.

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.