Kayne Anderson BDC (NYSE:KBDC) Director James Robo Buys 340,000 Shares of Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo bought 340,000 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were acquired at an average cost of $13.04 per share, for a total transaction of $4,433,600.00. Following the transaction, the director directly owned 400,000 shares in the company, valued at approximately $5,216,000. This trade represents a 566.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Kayne Anderson BDC Price Performance

Shares of KBDC opened at $13.07 on Thursday. The company has a 50 day moving average price of $13.51 and a 200-day moving average price of $13.95. Kayne Anderson BDC, Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $15.87. The stock has a market capitalization of $862.88 million, a PE ratio of 11.99 and a beta of 0.32. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $19.27 million for the quarter, compared to analyst estimates of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. Equities analysts predict that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.2%. Kayne Anderson BDC’s dividend payout ratio (DPR) is currently 146.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Zacks Research downgraded Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. UBS Group lowered their price target on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Finally, Royal Bank Of Canada reduced their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kayne Anderson BDC presently has a consensus rating of “Hold” and an average price target of $14.50.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of large investors have recently modified their holdings of KBDC. Bank of America Corp DE raised its position in shares of Kayne Anderson BDC by 2.7% in the 1st 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 last quarter. Requisite Capital Management LLC increased its stake in Kayne Anderson BDC by 6.5% during the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock valued at $8,987,000 after purchasing an additional 39,385 shares in the last quarter. HB Wealth Management LLC increased its stake in Kayne Anderson BDC by 19.1% during the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after purchasing an additional 44,848 shares in the last quarter. Renaissance Technologies LLC increased its stake in Kayne Anderson BDC by 101.8% during the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after purchasing an additional 73,322 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Kayne Anderson BDC by 46.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company’s stock worth $1,350,000 after buying an additional 31,444 shares during the last quarter.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.