Kayne Anderson BDC, Inc. $KBDC Shares Acquired by UBS Group AG

Key Points

• UBS Group AG increased its stake in Kayne Anderson BDC by 265% in the fourth quarter, ending with 576,812 shares worth about $8.26 million.
• The company reported Q1 earnings of $0.43 per share, beating analyst expectations, though revenue came in well below forecasts at $24.86 million.
• Kayne Anderson BDC declared a quarterly dividend of $0.40 per share, equal to a 10.9% annualized yield, with payment scheduled for July 16.

UBS Group AG lifted its stake in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 265.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 576,812 shares of the company's stock after buying an additional 418,789 shares during the quarter. UBS Group AG owned approximately 0.84% of Kayne Anderson BDC worth $8,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KBDC. Koch Inc. acquired a new position in shares of Kayne Anderson BDC during the second quarter worth about $185,887,000. Bank of America Corp DE grew its position in shares of Kayne Anderson BDC by 180.1% during the second quarter. Bank of America Corp DE now owns 4,596,731 shares of the company's stock worth $70,146,000 after buying an additional 2,955,661 shares in the last quarter. Pathstone Holdings LLC grew its position in shares of Kayne Anderson BDC by 612.8% during the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company's stock worth $19,261,000 after buying an additional 1,243,181 shares in the last quarter. AG Asset Advisory LLC acquired a new position in shares of Kayne Anderson BDC during the third quarter worth about $2,708,000. Finally, Sage Mountain Advisors LLC grew its position in shares of Kayne Anderson BDC by 13.8% during the third quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company's stock worth $14,099,000 after buying an additional 128,061 shares in the last quarter.

Insider Activity at Kayne Anderson BDC

In related news, Director George E. Marucci, Jr. purchased 9,000 shares of the business's stock in a transaction dated Friday, March 6th. The stock was acquired at an average price of $13.74 per share, for a total transaction of $123,660.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company's stock, valued at $137,400. This trade represents a 900.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by company insiders.

Kayne Anderson BDC Price Performance

Kayne Anderson BDC stock opened at $14.67 on Monday. Kayne Anderson BDC, Inc. has a 12 month low of $13.06 and a 12 month high of $16.40. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.15 and a quick ratio of 1.15. The business has a 50 day simple moving average of $14.23 and a 200-day simple moving average of $14.45. The stock has a market capitalization of $973.02 million, a PE ratio of 11.46 and a beta of 0.28.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.43 EPS for the quarter, topping the consensus estimate 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 business had revenue of $24.86 million during the quarter, compared to analysts' expectations of $52.40 million. Equities analysts predict that Kayne Anderson BDC, Inc. will post 1.6 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Tuesday, June 30th. Kayne Anderson BDC's dividend payout ratio is 125.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Kayne Anderson BDC from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on Kayne Anderson BDC from $16.00 to $15.50 and set an "outperform" rating for the company in a research report on Wednesday, March 4th. Finally, UBS Group boosted their price objective on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.38.

About Kayne Anderson BDC

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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