Equitec Proprietary Markets LLC Invests $1.32 Million in Kayne Anderson BDC, Inc. $KBDC

Key Points

• Equitec Proprietary Markets LLC has acquired 81,332 shares of Kayne Anderson BDC, Inc. valued at approximately $1.32 million, marking it as the fourth largest position in their portfolio.
• Several large investors have significantly increased their stakes in Kayne Anderson BDC, with Bank of America growing its holdings by 4,201.5% in the last quarter.
• The company recently announced a quarterly dividend of $0.40 per share, with an annualized payout yielding 10.6%, scheduled for distribution on October 16th.

Equitec Proprietary Markets LLC purchased a new stake in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 81,332 shares of the company's stock, valued at approximately $1,319,000. Kayne Anderson BDC accounts for approximately 0.9% of Equitec Proprietary Markets LLC's holdings, making the stock its 4th largest holding. Equitec Proprietary Markets LLC owned approximately 0.11% of Kayne Anderson BDC as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Kayne Anderson BDC by 628.4% in the first quarter. Cerity Partners LLC now owns 73,073 shares of the company's stock valued at $1,185,000 after buying an additional 63,041 shares during the period. Accelerate Investment Advisors LLC bought a new stake in Kayne Anderson BDC during the first quarter worth $678,000. Millennium Management LLC lifted its stake in Kayne Anderson BDC by 65.3% during the fourth quarter. Millennium Management LLC now owns 62,500 shares of the company's stock worth $1,034,000 after purchasing an additional 24,701 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Kayne Anderson BDC during the fourth quarter worth $545,000. Finally, Bank of America Corp DE lifted its stake in Kayne Anderson BDC by 4,201.5% during the fourth quarter. Bank of America Corp DE now owns 989,008 shares of the company's stock worth $16,358,000 after purchasing an additional 966,016 shares during the last quarter.

Kayne Anderson BDC Trading Down 0.1%

NYSE KBDC traded down $0.01 on Thursday, reaching $15.01. The company had a trading volume of 74,927 shares, compared to its average volume of 140,963. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 8.88 and a beta of 0.29. Kayne Anderson BDC, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $17.99. The business has a 50 day moving average of $15.56 and a two-hundred day moving average of $15.99. 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 posted its quarterly earnings data on Monday, August 11th. The company reported $0.40 earnings per share 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 analyst estimates of $49.37 million. Analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 EPS for the current year.

Kayne Anderson BDC Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date is Tuesday, September 30th. Kayne Anderson BDC's dividend payout ratio (DPR) is presently 94.67%.

Analyst Upgrades and Downgrades

KBDC has been the subject of several recent analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $17.00 target price on shares of Kayne Anderson BDC in a research note on Monday, May 19th. UBS Group increased their price target 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Kayne Anderson BDC currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

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.