HB Wealth Management LLC Raises Stake in Kayne Anderson BDC, Inc. $KBDC

HB Wealth Management LLC grew its position in Kayne Anderson BDC, Inc. (NYSE:KBDC) by 19.1% in the second quarter, HoldingsChannel.com reports. The firm owned 280,189 shares of the company’s stock after acquiring an additional 44,848 shares during the period. HB Wealth Management LLC’s holdings in Kayne Anderson BDC were worth $3,791,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 valued at $146,000 after purchasing an additional 1,407 shares during the period. Osaic Holdings Inc. boosted its holdings in 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 buying an additional 4,261 shares during the period. Acadian Asset Management LLC boosted its holdings 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 worth $173,000 after buying an additional 8,343 shares during the period. Sovereign Financial Group Inc. bought a new position in Kayne Anderson BDC in the 1st quarter worth $155,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Kayne Anderson BDC in the 3rd quarter worth $156,000.

Analysts Set New Price Targets

KBDC has been the topic of a number of recent analyst reports. Wells Fargo & Company reissued an “equal weight” rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Royal Bank Of Canada dropped their price objective on 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. Zacks Research downgraded Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Finally, UBS Group decreased their target price on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Price Performance

Shares of KBDC stock opened at $13.45 on Tuesday. The stock has a market cap of $888.24 million, a P/E ratio of 12.34 and a beta of 0.32. Kayne Anderson BDC, Inc. has a 52 week low of $13.06 and a 52 week high of $15.87. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $13.59 and its two-hundred day simple moving average is $13.99.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share 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 analyst estimates of $51.86 million. Analysts predict that Kayne Anderson BDC, Inc. will post 1.61 EPS for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 11.9%. Kayne Anderson BDC’s dividend payout ratio is presently 146.79%.

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.