HB Wealth Management LLC Buys 76,250 Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC)

Key Points

• HB Wealth Management LLC increased its holdings in Kayne Anderson BDC by 79.3% during the first quarter, acquiring a total of 172,445 shares valued at approximately $2.8 million.
• Kayne Anderson BDC reported a net margin of 56.97% for the quarter but fell short of analysts' earnings expectations, posting $0.40 per share against an expected $0.42.
• The company announced a $0.10 dividend paid to shareholders on June 24th, yielding approximately 12.1% with a payout ratio of 88.89%.

HB Wealth Management LLC grew its holdings in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 79.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,445 shares of the company's stock after acquiring an additional 76,250 shares during the quarter. HB Wealth Management LLC owned 0.24% of Kayne Anderson BDC worth $2,797,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KBDC. Virtu Financial LLC bought a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at about $197,000. CIBC Private Wealth Group LLC bought a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at about $46,000. Centric Wealth Management bought a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at about $1,179,000. Cerity Partners LLC bought a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at about $170,000. Finally, Invesco Ltd. bought a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at about $712,000.

Kayne Anderson BDC Price Performance

Shares of KBDC traded up $0.05 during midday trading on Thursday, hitting $15.51. The company's stock had a trading volume of 42,543 shares, compared to its average volume of 142,119. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 8.62 and a beta of 0.29. Kayne Anderson BDC, Inc. has a one year low of $13.93 and a one year high of $17.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.85. The company's fifty day simple moving average is $15.79 and its two-hundred day simple moving average is $16.23.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). The company had revenue of $55.25 million for the quarter, compared to analyst estimates of $58.43 million. Kayne Anderson BDC had a return on equity of 11.36% and a net margin of 56.97%. As a group, equities analysts expect 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 announced a dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.10 per share. This represents a yield of 12.1%. The ex-dividend date of this dividend was Monday, June 9th. Kayne Anderson BDC's payout ratio is presently 88.89%.

Insider Activity

In related news, Director Albert Rabil sold 314,465 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $15.90, for a total transaction of $4,999,993.50. Following the completion of the sale, the director owned 151,686 shares of the company's stock, valued at $2,411,807.40. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 387,485 shares of company stock valued at $6,151,830. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group lifted their price objective on Kayne Anderson BDC from $16.00 to $16.50 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $17.00 price objective on shares of Kayne Anderson BDC in a research report on Monday, May 19th. Wells Fargo & Company dropped their target price on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Kayne Anderson BDC from $17.00 to $16.50 and set a "market perform" rating for the company in a report on Tuesday, April 8th.

Kayne Anderson BDC 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.