Kayne Anderson BDC (NYSE:KBDC) Sets New 12-Month Low - Should You Sell?

Key Points

• Kayne Anderson BDC shares have reached a new 52-week low of $13.93, with the stock last trading at $13.97 amid increased trading volume of 167,615 shares.
• UBS Group has adjusted its price target for Kayne Anderson BDC from $16.00 to $16.50, maintaining a "neutral" rating, while the stock currently has an average rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.40, representing an annual yield of 11.5%, with a significant dividend payout ratio of 94.67%.

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.93 and last traded at $13.97, with a volume of 167615 shares trading hands. The stock had previously closed at $14.12.

Wall Street Analyst Weigh In

Separately, UBS Group upped their price objective on Kayne Anderson BDC from $16.00 to $16.50 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kayne Anderson BDC presently has an average rating of "Moderate Buy" and a consensus price target of $16.50.

Kayne Anderson BDC Stock Performance

The firm has a fifty day moving average price of $15.25 and a 200 day moving average price of $15.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $979.51 million, a PE ratio of 8.21 and a beta of 0.29.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Kayne Anderson BDC had a net margin of 52.99% and a return on equity of 10.90%. The business had revenue of $57.30 million for the quarter, compared to analysts' expectations of $49.37 million. Research analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 11.5%. Kayne Anderson BDC's dividend payout ratio (DPR) is 94.67%.

Hedge Funds Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KBDC. Citadel Advisors LLC raised its stake in shares of Kayne Anderson BDC by 21.1% during the 4th quarter. Citadel Advisors LLC now owns 56,078 shares of the company's stock valued at $928,000 after buying an additional 9,753 shares during the last quarter. Millennium Management LLC raised its stake in shares of Kayne Anderson BDC by 65.3% during the 4th quarter. Millennium Management LLC now owns 62,500 shares of the company's stock valued at $1,034,000 after buying an additional 24,701 shares during the last quarter. Confluence Investment Management LLC raised its stake in shares of Kayne Anderson BDC by 0.6% during the 1st quarter. Confluence Investment Management LLC now owns 110,635 shares of the company's stock valued at $1,794,000 after buying an additional 678 shares during the last quarter. AdvisorNet Financial Inc acquired a new stake in shares of Kayne Anderson BDC during the 1st quarter valued at about $239,000. Finally, Magnus Financial Group LLC grew its position in shares of Kayne Anderson BDC by 32.7% during the 1st quarter. Magnus Financial Group LLC now owns 39,261 shares of the company's stock valued at $637,000 after acquiring an additional 9,684 shares during the period.

Kayne Anderson BDC Company Profile

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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