Insider Buying: Kayne Anderson BDC (NYSE:KBDC) Director Purchases $781,200.00 in Stock

by · The Markets Daily

Kayne Anderson BDC, Inc. (NYSE:KBDCGet Free Report) Director James Robo acquired 60,000 shares of Kayne Anderson BDC stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $13.02 per share, for a total transaction of $781,200.00. Following the completion of the transaction, the director directly owned 60,000 shares in the company, valued at $781,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kayne Anderson BDC Trading Up 0.4%

NYSE KBDC traded up $0.05 during trading on Wednesday, hitting $13.07. The stock had a trading volume of 756,482 shares, compared to its average volume of 335,328. Kayne Anderson BDC, Inc. has a one year low of $12.88 and a one year high of $15.87. The stock has a 50 day simple moving average of $13.52 and a 200 day simple moving average of $13.96. The stock has a market capitalization of $862.88 million, a price-to-earnings 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:KBDCGet Free Report) last released its earnings results on Monday, August 10th. The company reported $0.42 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 for the quarter, compared to analysts’ expectations of $51.86 million. Sell-side analysts predict that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio is 146.79%.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Report on Kayne Anderson BDC

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KBDC. Baird Financial Group Inc. purchased a new position in Kayne Anderson BDC during the second quarter valued at approximately $147,000. Sovereign Financial Group Inc. bought a new stake in Kayne Anderson BDC during the 1st quarter valued at $155,000. Platt Wealth Management LLC bought a new stake in Kayne Anderson BDC during the 4th quarter valued at $175,000. Squarepoint Ops LLC increased its holdings in shares of Kayne Anderson BDC by 126.1% in the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock valued at $307,000 after acquiring an additional 12,663 shares during the period. Finally, MQS Management LLC purchased a new position in shares of Kayne Anderson BDC in the 1st quarter valued at $204,000.

About Kayne Anderson BDC

(Get Free Report)

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.

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