Sage Mountain Advisors LLC Sells 260,371 Shares of Kayne Anderson BDC, Inc. $KBDC

Key Points

• Sage Mountain Advisors cut its stake in Kayne Anderson BDC by 24.6%, selling 260,371 shares and leaving it with 798,116 shares (about 1.17%) worth $11.43 million.
• Kayne Anderson BDC declared a quarterly dividend of $0.40 (annualized $1.60), implying a 11.0% yield and a payout ratio of 120.3%; the ex-dividend date is March 31 and the payment is April 16.
• The company reported EPS of $0.44 (beating estimates) but revenue of $33.44M missed consensus, while analysts have trimmed price targets and the consensus rating is a “Moderate Buy” with an average target of $15.00.

Sage Mountain Advisors LLC cut its stake in Kayne Anderson BDC, Inc. (NYSE:KBDC - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 798,116 shares of the company's stock after selling 260,371 shares during the period. Sage Mountain Advisors LLC owned approximately 1.17% of Kayne Anderson BDC worth $11,429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KBDC. AG Asset Advisory LLC bought a new position in shares of Kayne Anderson BDC during the 3rd quarter worth about $2,708,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Kayne Anderson BDC during the 3rd quarter worth about $539,000. North Ground Capital bought a new position in shares of Kayne Anderson BDC during the 3rd quarter worth about $1,332,000. MQS Management LLC bought a new position in shares of Kayne Anderson BDC during the 3rd quarter worth about $607,000. Finally, Callodine Capital Management LP lifted its holdings in shares of Kayne Anderson BDC by 18.4% during the 3rd quarter. Callodine Capital Management LP now owns 400,000 shares of the company's stock worth $5,328,000 after acquiring an additional 62,270 shares during the period.

Kayne Anderson BDC Trading Up 1.7%

Shares of KBDC stock opened at $14.49 on Wednesday. Kayne Anderson BDC, Inc. has a 12-month low of $13.06 and a 12-month high of $16.40. The company has a market capitalization of $964.60 million, a P/E ratio of 10.89 and a beta of 0.04. The firm has a 50-day moving average price of $13.91 and a 200 day moving average price of $14.31. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.01.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. Kayne Anderson BDC had a net margin of 39.74% and a return on equity of 10.23%. The firm had revenue of $33.44 million during the quarter, compared to the consensus estimate of $56.48 million. Research analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Kayne Anderson BDC's dividend payout ratio (DPR) is currently 120.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Kayne Anderson BDC from $15.00 to $14.50 and set a "neutral" rating for the company in a report on Friday, March 13th. Keefe, Bruyette & Woods reduced their price objective on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an "outperform" rating for the company in a report on Wednesday, March 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Kayne Anderson BDC from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Kayne Anderson BDC has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Insider Transactions at Kayne Anderson BDC

In related news, Director George E. Marucci, Jr. acquired 9,000 shares of the stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $13.74 per share, for a total transaction of $123,660.00. Following the transaction, the director owned 10,000 shares of the company's stock, valued at $137,400. The trade was a 900.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

Kayne Anderson BDC 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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