Kayne Anderson BDC (NYSE:KBDC) Director James Robo Buys 105,000 Shares of Company Stock

Key Points

• Director James Robo purchased 105,000 KBDC shares at an average price of $13.05, investing approximately $1.37 million and increasing his ownership by 20.39% to 619,961 shares.
• Kayne Anderson BDC declared a quarterly dividend of $0.40 per share, or $1.60 annualized, implying a 12.3% yield; the dividend payout ratio is 146.79%.
• Analyst sentiment is mixed, with an overall “Hold” consensus and a $14.50 average price target. KBDC recently traded near $13.01, while its latest quarterly EPS of $0.42 exceeded the $0.40 consensus estimate.

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) Director James Robo bought 105,000 shares of the firm's stock in a transaction that occurred on Thursday, September 24th. The stock was purchased at an average cost of $13.05 per share, with a total value of $1,370,250.00. Following the completion of the transaction, the director owned 619,961 shares in the company, valued at approximately $8,090,491.05. This trade represents a 20.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Kayne Anderson BDC Stock Performance

Shares of KBDC stock traded up $0.01 during trading hours on Friday, hitting $13.01. The stock had a trading volume of 182,715 shares, compared to its average volume of 336,130. The stock's 50 day moving average is $13.43 and its 200 day moving average is $13.93. Kayne Anderson BDC, Inc. has a twelve month low of $12.88 and a twelve month high of $15.87. The firm has a market capitalization of $858.85 million, a PE ratio of 11.94 and a beta of 0.32. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25.

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 (EPS) for the quarter, topping 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 company had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. As a group, research analysts forecast that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders 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 yield of 12.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Kayne Anderson BDC's dividend payout ratio (DPR) is presently 146.79%.

Analysts Set New Price Targets

Several research firms have recently commented on KBDC. Royal Bank Of Canada reduced 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. Wells Fargo & Company reiterated an "equal weight" rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Zacks Research downgraded Kayne Anderson BDC from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Finally, UBS Group reduced their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a "neutral" rating for the company in a report on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $14.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of Kayne Anderson BDC by 2.7% during the 1st quarter. Bank of America Corp DE now owns 5,565,223 shares of the company's stock worth $76,355,000 after acquiring an additional 143,854 shares in the last quarter. Requisite Capital Management LLC boosted its position in Kayne Anderson BDC by 6.5% during the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company's stock worth $8,987,000 after purchasing an additional 39,385 shares in the last quarter. HB Wealth Management LLC grew its holdings in Kayne Anderson BDC by 19.1% in the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company's stock valued at $3,791,000 after purchasing an additional 44,848 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Kayne Anderson BDC by 101.8% in the first 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 last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Kayne Anderson BDC by 46.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company's stock valued at $1,350,000 after buying an additional 31,444 shares in the last quarter.

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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