Kayne Anderson BDC (NYSE:KBDC) Upgraded by Keefe, Bruyette & Woods to Outperform Rating

Key Points

• Kayne Anderson BDC has been upgraded by Keefe, Bruyette & Woods from a "market perform" to an "outperform" rating, with a price target set at $16.50, indicating a potential upside of 21.64% from its previous close.
• UBS Group also raised its price target for the stock from $16.00 to $16.50, assigning a "neutral" rating, while three analysts rated it as a Buy.
• The company reported $0.40 earnings per share for the last quarter, slightly missing the consensus estimate, but exceeded revenue expectations with $57.30 million for the quarter.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) was upgraded by equities researchers at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research note issued on Monday,Finviz reports. The firm presently has a $16.50 price target on the stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 21.64% from the company's previous close.

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

Kayne Anderson BDC Trading Up 0.9%

Shares of KBDC opened at $13.57 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The firm's 50-day moving average is $14.82 and its two-hundred day moving average is $15.49. Kayne Anderson BDC has a twelve month low of $13.06 and a twelve month high of $17.99. The firm has a market capitalization of $957.42 million, a P/E ratio of 8.03 and a beta of 0.14.

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

Institutional Trading of Kayne Anderson BDC

A number of hedge funds have recently bought and sold shares of KBDC. Koch Inc. purchased a new position in Kayne Anderson BDC during the second quarter worth approximately $185,887,000. Bank of America Corp DE raised its stake in Kayne Anderson BDC by 180.1% during the second quarter. Bank of America Corp DE now owns 4,596,731 shares of the company's stock worth $70,146,000 after purchasing an additional 2,955,661 shares during the period. Merit Financial Group LLC purchased a new position in Kayne Anderson BDC during the second quarter worth approximately $26,525,000. Requisite Capital Management LLC raised its stake in Kayne Anderson BDC by 130.4% during the second quarter. Requisite Capital Management LLC now owns 842,721 shares of the company's stock worth $13,197,000 after purchasing an additional 476,938 shares during the period. Finally, Sage Mountain Advisors LLC raised its stake in Kayne Anderson BDC by 71.9% during the second quarter. Sage Mountain Advisors LLC now owns 930,426 shares of the company's stock worth $14,198,000 after purchasing an additional 389,317 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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