Kayne Anderson BDC, Inc. $KBDC Position Lowered by Confluence Investment Management LLC

Key Points

• Confluence Investment Management LLC significantly reduced its holdings in Kayne Anderson BDC by 49.3% during the 2nd quarter, now owning 56,100 shares valued at approximately $856,000.
• Kayne Anderson BDC recently reported a quarterly dividend of $0.40 per share, which translates to a 10.6% dividend yield.
• The company has a debt-to-equity ratio of 0.90 and reported revenue of $57.30 million for the last quarter, exceeding expectations of $49.37 million.

Confluence Investment Management LLC reduced its stake in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 49.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,100 shares of the company's stock after selling 54,535 shares during the period. Confluence Investment Management LLC owned approximately 0.08% of Kayne Anderson BDC worth $856,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its holdings in Kayne Anderson BDC by 11.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 16,504 shares of the company's stock valued at $268,000 after purchasing an additional 1,690 shares in the last quarter. Accredited Investors Inc. increased its holdings in Kayne Anderson BDC by 57.1% in the 1st quarter. Accredited Investors Inc. now owns 18,578 shares of the company's stock valued at $301,000 after purchasing an additional 6,754 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Kayne Anderson BDC by 341.2% in the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company's stock valued at $173,000 after purchasing an additional 8,343 shares in the last quarter. Magnus Financial Group LLC increased its holdings in Kayne Anderson BDC by 32.7% in the 1st quarter. Magnus Financial Group LLC now owns 39,261 shares of the company's stock valued at $637,000 after purchasing an additional 9,684 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in Kayne Anderson BDC by 21.1% in the 4th quarter. Citadel Advisors LLC now owns 56,078 shares of the company's stock valued at $928,000 after purchasing an additional 9,753 shares in the last quarter.

Kayne Anderson BDC Stock Down 0.4%

Shares of Kayne Anderson BDC stock traded down $0.06 during trading hours on Friday, hitting $14.29. 77,016 shares of the company's stock traded hands, compared to its average volume of 153,084. The stock has a 50 day simple moving average of $15.33 and a 200-day simple moving average of $15.72. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.01 billion, a PE ratio of 8.45 and a beta of 0.28. Kayne Anderson BDC, Inc. has a twelve month low of $13.93 and a twelve month high of $17.99.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Kayne Anderson BDC had a return on equity of 10.90% and a net margin of 52.99%.The company had revenue of $57.30 million for the quarter, compared to the consensus estimate of $49.37 million. Equities research analysts anticipate that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 11.2%. Kayne Anderson BDC's dividend payout ratio (DPR) is presently 94.67%.

Analyst Upgrades and Downgrades

Separately, UBS Group raised their target price 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 equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.50.

Kayne Anderson BDC Company Profile

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.