Kayne Anderson BDC (NYSE:KBDC) Releases Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Kayne Anderson BDC (NYSE:KBDC) announced its quarterly earnings results on Monday. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24), FiscalAI reports. Kayne Anderson BDC had a net margin of 37.30% and a return on equity of 10.47%. The firm had revenue of $19.27 million during the quarter, compared to the consensus estimate of $51.86 million.

Kayne Anderson BDC Price Performance

Shares of Kayne Anderson BDC stock remained flat at $14.12 during midday trading on Monday. The company had a trading volume of 725,565 shares, compared to its average volume of 328,069. The stock’s fifty day moving average is $13.85 and its two-hundred day moving average is $14.09. Kayne Anderson BDC has a one year low of $13.06 and a one year high of $15.87. The stock has a market capitalization of $936.86 million, a price-to-earnings ratio of 11.03 and a beta of 0.31. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.04.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in shares of Kayne Anderson BDC by 16.0% in the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock valued at $146,000 after purchasing an additional 1,407 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in Kayne Anderson BDC during the third quarter worth $156,000. Osaic Holdings Inc. lifted its holdings in Kayne Anderson BDC by 70.9% in the second 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 during the period. Centiva Capital LP acquired a new position in Kayne Anderson BDC in the third quarter valued at $172,000. Finally, Acadian Asset Management LLC boosted its position in Kayne Anderson BDC by 341.2% during the first quarter. Acadian Asset Management LLC now owns 10,788 shares of the company’s stock valued at $173,000 after acquiring an additional 8,343 shares during the last quarter.

Wall Street Analysts Forecast Growth

KBDC has been the subject of several recent research reports. UBS Group upped their price target on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $14.00 price objective (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.12.

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.