UBS Group Cuts Kayne Anderson BDC (NYSE:KBDC) Price Target to $14.50

Key Points

• UBS cut its price target on Kayne Anderson BDC to $14.50 from $15.00 and maintained a "neutral" rating, implying roughly a 6.25% upside from the prior close.
• Other brokers have trimmed targets too, but the street consensus is a "Moderate Buy" with an average target of $15.00 (three Buy ratings, one Hold).
• The company beat quarterly EPS estimates ($0.44 vs. $0.41), and a director purchased 9,000 shares at about $13.74, indicating recent insider buying.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) had its price target reduced by equities research analysts at UBS Group from $15.00 to $14.50 in a report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price objective would indicate a potential upside of 6.25% from the stock's previous close.

Several other research analysts have also commented on KBDC. Keefe, Bruyette & Woods cut their price target on Kayne Anderson BDC from $16.00 to $15.50 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Royal Bank Of Canada decreased their price objective on Kayne Anderson BDC from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, November 19th. Finally, Wells Fargo & Company lowered their target price on shares of Kayne Anderson BDC from $15.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.00.

Kayne Anderson BDC Stock Performance

NYSE KBDC traded up $0.08 during trading hours on Friday, hitting $13.65. The company had a trading volume of 610,326 shares, compared to its average volume of 382,278. The business has a 50 day moving average of $14.18 and a 200-day moving average of $14.44. The company has a market cap of $914.08 million, a PE ratio of 10.26 and a beta of 0.23. Kayne Anderson BDC has a 1-year low of $13.06 and a 1-year high of $16.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.26 and a current ratio of 1.26.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.03. Kayne Anderson BDC had a return on equity of 10.23% and a net margin of 39.74%.The business had revenue of ($25.53) million for the quarter, compared to analysts' expectations of $56.48 million. As a group, equities research analysts expect that Kayne Anderson BDC will post 2.06 EPS for the current year.

Insider Activity at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director George E. Marucci, Jr. purchased 9,000 shares of Kayne Anderson BDC stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $13.74 per share, with a total value of $123,660.00. Following the acquisition, the director directly owned 10,000 shares of the company's stock, valued at $137,400. This represents a 900.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of KBDC. Security National Bank grew its position in shares of Kayne Anderson BDC by 205.4% in the third quarter. Security National Bank now owns 5,057 shares of the company's stock valued at $67,000 after purchasing an additional 3,401 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Kayne Anderson BDC by 16.0% during the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company's stock worth $146,000 after purchasing an additional 1,407 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Kayne Anderson BDC by 70.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company's stock valued at $157,000 after buying an additional 4,261 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Kayne Anderson BDC by 341.2% in 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 in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Kayne Anderson BDC during the 3rd quarter valued at $156,000.

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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