Insider Buying: Kayne Anderson BDC (NYSE:KBDC) Director Buys $1,912,217.65 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director James Robo purchased 146,755 shares of the company’s stock in a transaction dated Monday, September 28th. The stock was bought at an average price of $13.03 per share, with a total value of $1,912,217.65. Following the completion of the transaction, the director directly owned 766,716 shares of the company’s stock, valued at approximately $9,990,309.48. This represents a 23.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Kayne Anderson BDC Stock Down 0.6%

NYSE KBDC opened at $12.68 on Friday. The business’s fifty day simple moving average is $13.35 and its 200-day simple moving average is $13.89. 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 firm has a market cap of $837.65 million, a PE ratio of 11.64 and a beta of 0.34. Kayne Anderson BDC, Inc. has a 52 week low of $12.55 and a 52 week high of $15.87.

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, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $19.27 million during the quarter, compared to analysts’ expectations of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. As a group, equities analysts anticipate that Kayne Anderson BDC, Inc. will post 1.61 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio (DPR) is currently 146.79%.

Wall Street Analyst Weigh In

KBDC has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Zacks Research lowered shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. UBS Group reduced their price target on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in Kayne Anderson BDC by 2.7% during the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after purchasing an additional 143,854 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Kayne Anderson BDC by 101.8% during the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock worth $1,994,000 after buying an additional 73,322 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in shares of Kayne Anderson BDC during the 4th quarter worth $1,048,000. Sei Investments Co. purchased a new position in shares of Kayne Anderson BDC in the 1st quarter worth $730,000. Finally, HB Wealth Management LLC raised its position in shares of Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after buying an additional 44,848 shares during the period.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc is a business development company that provides financing to privately held U.S. middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing in the debt and equity securities of companies that may have limited access to traditional financing.

Its investment activities primarily include providing secured loans and other forms of credit, along with potential investments in subordinated debt, preferred equity and common equity.