Kayne Anderson BDC (NYSE:KBDC) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Kayne Anderson BDC from “hold” to “strong sell,” while other analysts remained mixed; the consensus rating is “hold” with an average price target of $14.88.
• KBDC shares opened at $13.24, down 0.7%, near the lower end of their 52-week range of $13.06 to $15.87. The stock’s market capitalization is approximately $874.7 million.
• The company reported quarterly EPS of $0.42, exceeding the $0.40 consensus estimate, but revenue of $19.27 million was well below the $51.86 million estimate.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on KBDC. 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. Royal Bank Of Canada dropped their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an "outperform" rating on the stock in a report on Thursday, August 13th. Finally, UBS Group lifted their target price on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.88.

Kayne Anderson BDC Stock Down 0.7%

KBDC opened at $13.24 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. The stock has a market cap of $874.70 million, a price-to-earnings ratio of 12.15 and a beta of 0.31. Kayne Anderson BDC has a twelve month low of $13.06 and a twelve month high of $15.87. The company's 50-day moving average price is $13.71 and its two-hundred day moving average price is $14.05.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%. As a group, equities analysts expect that Kayne Anderson BDC will post 1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its stake in Kayne Anderson BDC by 16.0% during the fourth quarter. Advisory Services Network LLC now owns 10,206 shares of the company's stock valued at $146,000 after buying an additional 1,407 shares during the period. Sovereign Financial Group Inc. purchased a new stake in shares of Kayne Anderson BDC in the 1st quarter valued at about $155,000. Brevan Howard Capital Management LP purchased a new stake in shares of Kayne Anderson BDC in the 3rd quarter valued at about $156,000. Osaic Holdings Inc. boosted its position in shares of Kayne Anderson BDC by 70.9% during the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company's stock valued at $157,000 after acquiring an additional 4,261 shares during the last quarter. Finally, Centiva Capital LP bought a new stake in shares of Kayne Anderson BDC during the 3rd quarter valued at about $172,000.

About Kayne Anderson BDC

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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