Kayne Anderson BDC (NYSE:KBDC) Announces Earnings Results

Key Points

• Kayne Anderson BDC reported quarterly earnings of $0.40 EPS, missing analysts' expectations of $0.41 EPS by $0.01, while achieving a return on equity of 11.36% and a net margin of 56.97%.
• The company declared a $0.10 dividend for shareholders, yielding an impressive 1,210.0%, with a payout ratio of 88.89%.
• Several institutional investors increased their stakes in Kayne Anderson BDC, including Acadian Asset Management, which raised its position by 341.2%.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.01), Zacks reports. Kayne Anderson BDC had a return on equity of 11.36% and a net margin of 56.97%.

Kayne Anderson BDC Price Performance

KBDC traded down $0.14 during trading on Monday, reaching $15.16. The company's stock had a trading volume of 113,728 shares, compared to its average volume of 140,991. 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 firm has a fifty day simple moving average of $15.72 and a two-hundred day simple moving average of $16.16. Kayne Anderson BDC has a 1 year low of $13.93 and a 1 year high of $17.99. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 8.42 and a beta of 0.29.

Kayne Anderson BDC Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th were paid a $0.10 dividend. This represents a yield of 1,210.0%. The ex-dividend date of this dividend was Monday, June 9th. Kayne Anderson BDC's dividend payout ratio (DPR) is 88.89%.

Insiders Place Their Bets

In other Kayne Anderson BDC news, Director Albert Rabil sold 314,465 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $15.90, for a total value of $4,999,993.50. Following the transaction, the director directly owned 151,686 shares of the company's stock, valued at $2,411,807.40. This trade represents a 67.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 387,485 shares of company stock valued at $6,151,830. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KBDC. Acadian Asset Management LLC raised its position in shares of Kayne Anderson BDC by 341.2% during the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company's stock valued at $173,000 after buying an additional 8,343 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Kayne Anderson BDC by 119.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,285 shares of the company's stock valued at $491,000 after buying an additional 16,501 shares during the period. Finally, NewEdge Advisors LLC purchased a new stake in shares of Kayne Anderson BDC during the 1st quarter valued at approximately $228,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $17.00 price target on shares of Kayne Anderson BDC in a research note on Monday, May 19th. Finally, UBS Group raised their price target on shares of Kayne Anderson BDC from $16.00 to $16.50 and gave the company a "neutral" rating in a research note on Wednesday, July 16th.

About Kayne Anderson BDC

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.

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