UBS Group Cuts Kayne Anderson BDC (NYSE:KBDC) Price Target to $13.50

Kayne Anderson BDC (NYSE:KBDC) had its price target reduced by UBS Group from $15.00 to $13.50 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. UBS Group currently has a neutral rating on the stock.

Several other research firms also recently commented on KBDC. Royal Bank Of Canada decreased their target price on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Zacks Research downgraded shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Finally, 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 note on Friday, June 12th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Kayne Anderson BDC currently has a consensus rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Trading Down 0.1%

NYSE KBDC opened at $13.49 on Tuesday. Kayne Anderson BDC has a 1-year low of $13.06 and a 1-year high of $15.87. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $890.88 million, a PE ratio of 12.38 and a beta of 0.32. The firm’s fifty day simple moving average is $13.61 and its 200-day simple moving average is $14.00.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%.The firm had revenue of $19.27 million during the quarter, compared to analysts’ expectations of $51.86 million. As a group, sell-side analysts anticipate that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.9%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio is presently 146.79%.

Institutional Trading of Kayne Anderson BDC

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC increased its holdings 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 period. Sovereign Financial Group Inc. acquired a new stake in Kayne Anderson BDC during the first quarter worth about $155,000. Brevan Howard Capital Management LP acquired a new stake in Kayne Anderson BDC during the third quarter worth about $156,000. Osaic Holdings Inc. increased its stake in Kayne Anderson BDC by 70.9% during the second quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock valued at $157,000 after acquiring an additional 4,261 shares during the period. Finally, Centiva Capital LP bought a new position in 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.