Kayne Anderson BDC (NYSE:KBDC) Director Buys $4,433,600.00 in Stock

Key Points

• Director James Robo purchased 340,000 KBDC shares at an average price of $13.04, investing $4.43 million and increasing his ownership to 400,000 shares.
• KBDC reported quarterly EPS of $0.42, beating estimates by $0.02, while announcing a $0.40 quarterly dividend—equivalent to a 12.2% yield.
• Analyst sentiment is mixed, with an overall “Hold” rating and a $14.50 consensus price target; shares recently traded at $13.07.

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) Director James Robo acquired 340,000 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of $13.04 per share, for a total transaction of $4,433,600.00. Following the transaction, the director owned 400,000 shares of the company's stock, valued at $5,216,000. This represents a 566.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kayne Anderson BDC Stock Up 0.4%

KBDC traded up $0.05 during trading hours on Wednesday, hitting $13.07. 756,482 shares of the company's stock were exchanged, compared to its average volume of 335,328. The stock has a market cap of $862.88 million, a price-to-earnings ratio of 11.99 and a beta of 0.32. Kayne Anderson BDC, Inc. has a 1-year low of $12.88 and a 1-year high of $15.87. The stock's 50-day moving average is $13.52 and its two-hundred day moving average is $13.96. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The firm had revenue of $19.27 million for the quarter, compared to analyst estimates of $51.86 million. Sell-side analysts predict that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.2%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC's dividend payout ratio is presently 146.79%.

Institutional Trading of Kayne Anderson BDC

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of Kayne Anderson BDC by 2.7% during the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company's stock worth $76,355,000 after purchasing an additional 143,854 shares during the period. Renaissance Technologies LLC boosted its stake in Kayne Anderson BDC by 101.8% in the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company's stock valued at $1,994,000 after purchasing an additional 73,322 shares during the period. Closed End Fund Advisors Inc. bought a new stake in Kayne Anderson BDC in the 4th quarter valued at $1,048,000. Sei Investments Co. bought a new stake in Kayne Anderson BDC in the 1st quarter valued at $730,000. Finally, HB Wealth Management LLC grew its holdings in Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company's stock valued at $3,791,000 after buying an additional 44,848 shares in the last quarter.

Analysts Set New Price Targets

KBDC has been the subject of a number of analyst reports. UBS Group decreased their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a "neutral" rating for the company in a research note on Tuesday, September 1st. Zacks Research cut Kayne Anderson BDC from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Wells Fargo & Company reissued an "equal weight" rating and issued a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Finally, Royal Bank Of Canada decreased their target price on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Kayne Anderson BDC currently has an average rating of "Hold" and a consensus price target of $14.50.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc NYSE: KBDC is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.

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