Kayne Anderson BDC, Inc. $KBDC Position Decreased by Requisite Capital Management LLC

Key Points

• Requisite Capital Management trimmed its Kayne Anderson BDC stake by 10.6% in the fourth quarter, selling 80,496 shares and leaving it with 676,459 shares valued at about $9.96 million.
• Kayne Anderson BDC reported quarterly earnings of $0.43 per share, topping analyst expectations, though revenue came in well below forecasts at $24.86 million.
• The company declared a quarterly dividend of $0.40 per share, implying an annualized yield of 10.9%, while analysts currently rate the stock a consensus Moderate Buy with a $15.38 price target.

Requisite Capital Management LLC lessened its holdings in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 676,459 shares of the company's stock after selling 80,496 shares during the quarter. Kayne Anderson BDC makes up about 1.9% of Requisite Capital Management LLC's investment portfolio, making the stock its 10th biggest position. Requisite Capital Management LLC owned 0.99% of Kayne Anderson BDC worth $9,957,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Koch Inc. purchased a new position in shares of Kayne Anderson BDC during the 2nd quarter worth $185,887,000. State of Michigan Retirement System purchased a new position in shares of Kayne Anderson BDC during the 4th quarter worth $94,036,000. Bank of America Corp DE lifted its stake in shares of Kayne Anderson BDC by 13.4% during the 3rd quarter. Bank of America Corp DE now owns 5,211,124 shares of the company's stock worth $69,412,000 after purchasing an additional 614,393 shares during the period. Pathstone Holdings LLC lifted its stake in shares of Kayne Anderson BDC by 612.8% during the 3rd quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company's stock worth $19,261,000 after purchasing an additional 1,243,181 shares during the period. Finally, Sage Mountain Advisors LLC lifted its stake in shares of Kayne Anderson BDC by 13.8% during the 3rd quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company's stock worth $14,099,000 after purchasing an additional 128,061 shares during the period.

Kayne Anderson BDC Price Performance

Shares of Kayne Anderson BDC stock opened at $14.67 on Monday. Kayne Anderson BDC, Inc. has a twelve month low of $13.06 and a twelve month high of $16.40. The stock has a market capitalization of $973.02 million, a P/E ratio of 11.46 and a beta of 0.28. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04. The business's fifty day moving average price is $14.23 and its 200 day moving average price is $14.45.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Kayne Anderson BDC had a return on equity of 10.47% and a net margin of 37.30%.The firm had revenue of $24.86 million for the quarter, compared to analysts' expectations of $52.40 million. As a group, research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.6 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 10.9%. Kayne Anderson BDC's dividend payout ratio (DPR) is presently 125.00%.

Insiders Place Their Bets

In other news, Director George E. Marucci, Jr. bought 9,000 shares of Kayne Anderson BDC stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average price of $13.74 per share, for a total transaction of $123,660.00. Following the completion of the acquisition, the director owned 10,000 shares of the company's stock, valued at $137,400. The trade was a 900.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group increased their price target on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Keefe, Bruyette & Woods reduced their target price on Kayne Anderson BDC from $16.00 to $15.50 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. Finally, Wells Fargo & Company lifted their target price on Kayne Anderson BDC from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.38.

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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