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

Other institutional investors have also modified their holdings of the company. SGL Investment Advisors Inc. purchased a new stake in shares of Kayne Anderson BDC during the 1st quarter worth approximately $165,000. Global View Capital Management LLC purchased a new stake in shares of Kayne Anderson BDC during the 1st quarter worth approximately $167,000. Mesirow Financial Investment Management Inc. purchased a new stake in Kayne Anderson BDC in the 1st quarter valued at approximately $168,000. Acadian Asset Management LLC lifted its stake 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 buying an additional 8,343 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. purchased a new stake in Kayne Anderson BDC in the 1st quarter valued at approximately $204,000.

Kayne Anderson BDC Stock Performance

NYSE:KBDC opened at $15.09 on Friday. 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, Inc. has a 1-year low of $13.93 and a 1-year high of $17.99. The firm has a 50-day moving average of $15.45 and a two-hundred day moving average of $15.79. The stock has a market cap of $1.07 billion, a P/E ratio of 8.93 and a beta of 0.28.

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. On average, research analysts expect that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors 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 10.6%. The ex-dividend date is Tuesday, September 30th. Kayne Anderson BDC's dividend payout ratio (DPR) is currently 94.67%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KBDC shares. UBS Group upped 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $17.00 target price on shares of Kayne Anderson BDC in a research note on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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.

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