Kayne Anderson BDC (NYSE:KBDC) Shares Gap Down – Here’s What Happened

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares gapped down prior to trading on Tuesday . The stock had previously closed at $13.97, but opened at $13.40. Kayne Anderson BDC shares last traded at $13.7950, with a volume of 61,208 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kayne Anderson BDC presently has an average rating of “Moderate Buy” and an average price target of $15.12.

Kayne Anderson BDC Stock Down 1.7%

The stock’s 50 day simple moving average is $13.84 and its 200 day simple moving average is $14.09. The firm has a market cap of $910.92 million, a P/E ratio of 10.75 and a beta of 0.31. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.15 and a current ratio of 1.15.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $19.27 million during the quarter, compared to the consensus estimate of $51.86 million. Kayne Anderson BDC had a net margin of 37.30% and a return on equity of 10.47%. Research analysts anticipate that Kayne Anderson BDC, Inc. will post 1.62 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 11.7%. Kayne Anderson BDC’s dividend payout ratio is presently 125.00%.

Hedge Funds Weigh In On Kayne Anderson BDC

Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in Kayne Anderson BDC by 16.0% in the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock worth $146,000 after buying an additional 1,407 shares during the period. Sovereign Financial Group Inc. bought a new stake in shares of Kayne Anderson BDC during the first quarter valued at approximately $155,000. Brevan Howard Capital Management LP purchased a new stake in shares of Kayne Anderson BDC during the third quarter valued at about $156,000. Osaic Holdings Inc. boosted its position in shares of Kayne Anderson BDC by 70.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock worth $157,000 after purchasing an additional 4,261 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Kayne Anderson BDC during the third quarter valued at about $172,000.

Kayne Anderson BDC Company Profile

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.