Kayne Anderson BDC (NYSE:KBDC) Price Target Lowered to $15.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Kayne Anderson BDC’s price target to $15 from $16 while maintaining an “outperform” rating, implying approximately 10.7% upside from the current price.
• KBDC shares fell 0.4% to $13.55, with the stock trading between a 52-week low of $13.06 and high of $15.87. Analysts collectively rate the stock “Moderate Buy,” with an average target price of $14.88.
• The company reported quarterly EPS of $0.42, exceeding the $0.40 consensus estimate, while institutional investors—including Koch Inc. and the State of Michigan Retirement System—recently established or increased positions.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) had its price objective reduced by research analysts at Royal Bank Of Canada from $16.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 10.70% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. UBS Group increased their price objective on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a "neutral" rating in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $14.88.

Kayne Anderson BDC Trading Down 0.4%

Shares of Kayne Anderson BDC stock traded down $0.05 during trading hours on Thursday, reaching $13.55. The stock had a trading volume of 84,779 shares, compared to its average volume of 326,437. The firm has a market capitalization of $894.84 million, a price-to-earnings ratio of 12.43 and a beta of 0.31. Kayne Anderson BDC has a 1 year low of $13.06 and a 1 year high of $15.87. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04. The firm has a 50 day simple moving average of $13.81 and a two-hundred day simple moving average of $14.08.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $19.27 million during the quarter, compared to analysts' expectations of $51.86 million. Kayne Anderson BDC had a return on equity of 10.51% and a net margin of 31.54%. As a group, equities research analysts anticipate that Kayne Anderson BDC will post 1.62 earnings per share for the current year.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Koch Inc. purchased a new stake in shares of Kayne Anderson BDC during the second quarter valued at approximately $185,887,000. State of Michigan Retirement System purchased a new position in shares of Kayne Anderson BDC in the fourth quarter valued at $94,036,000. Bank of America Corp DE boosted its stake in shares of Kayne Anderson BDC by 2.7% in the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company's stock valued at $76,355,000 after purchasing an additional 143,854 shares during the period. Pathstone Holdings LLC grew its holdings in Kayne Anderson BDC by 612.8% during the 3rd quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company's stock valued at $19,261,000 after purchasing an additional 1,243,181 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new stake in Kayne Anderson BDC during the 4th quarter valued at $11,804,000.

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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