Renaissance Technologies LLC Acquires 73,322 Shares of Kayne Anderson BDC, Inc. $KBDC

Key Points

• Renaissance Technologies doubled its KBDC holdings during the first quarter, buying 73,322 additional shares to own 145,322 shares valued at approximately $1.99 million, or 0.22% of Kayne Anderson BDC.
• Analyst sentiment remains moderately positive, with an average rating of “Moderate Buy” and a $15.12 price target, though Wells Fargo lowered its target to $14.00 while maintaining an equal-weight rating.
• KBDC reported quarterly EPS of $0.42, exceeding estimates by $0.02, and declared a $0.40 quarterly dividend. The annualized dividend of $1.60 represents an 11.6% yield.

Renaissance Technologies LLC raised its holdings in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 101.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 145,322 shares of the company's stock after purchasing an additional 73,322 shares during the quarter. Renaissance Technologies LLC owned 0.22% of Kayne Anderson BDC worth $1,994,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Koch Inc. bought a new position in Kayne Anderson BDC in the second quarter valued at about $185,887,000. State of Michigan Retirement System acquired a new stake in shares of Kayne Anderson BDC in the 4th quarter valued at approximately $94,036,000. Bank of America Corp DE boosted its stake in shares of Kayne Anderson BDC by 180.1% in the 2nd quarter. Bank of America Corp DE now owns 4,596,731 shares of the company's stock valued at $70,146,000 after purchasing an additional 2,955,661 shares in the last quarter. Pathstone Holdings LLC grew its holdings 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 valued at $19,261,000 after purchasing an additional 1,243,181 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Kayne Anderson BDC during the 4th quarter worth approximately $11,804,000.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company restated an "equal weight" rating and issued a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. UBS Group raised their price objective on Kayne Anderson BDC from $14.50 to $15.00 and gave the company a "neutral" rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $15.12.

Kayne Anderson BDC Trading Down 1.4%

Shares of NYSE KBDC opened at $13.77 on Wednesday. The firm has a 50 day moving average price of $13.82 and a two-hundred day moving average price of $14.08. The stock has a market cap of $913.64 million, a P/E ratio of 12.63 and a beta of 0.31. Kayne Anderson BDC, Inc. has a 52-week low of $13.06 and a 52-week high of $15.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $19.27 million for the quarter, compared to analysts' expectations of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.51%. As a group, equities analysts forecast that Kayne Anderson BDC, Inc. will post 1.62 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC's dividend payout ratio (DPR) is 125.00%.

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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