Keefe, Bruyette & Woods Cuts Kayne Anderson BDC (NYSE:KBDC) Price Target to $16.00

Kayne Anderson BDC (NYSE:KBDC) had its price objective lowered by Keefe, Bruyette & Woods from $16.50 to $16.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on KBDC. UBS Group decreased their price target on shares of Kayne Anderson BDC from $16.50 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Wells Fargo & Company reduced their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Kayne Anderson BDC has an average rating of “Moderate Buy” and an average target price of $15.75.

Kayne Anderson BDC Stock Performance

Shares of Kayne Anderson BDC stock opened at $14.80 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.45 and a debt-to-equity ratio of 1.00. The company has a market cap of $1.01 billion, a PE ratio of 9.80 and a beta of 0.18. The company has a 50 day moving average of $14.17 and a 200-day moving average of $15.13. Kayne Anderson BDC has a 1-year low of $13.06 and a 1-year high of $17.99.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Kayne Anderson BDC had a net margin of 46.55% and a return on equity of 10.40%. The company had revenue of $61.37 million for the quarter, compared to the consensus estimate of $53.97 million. As a group, equities research analysts forecast that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Wednesday, December 31st. Kayne Anderson BDC’s dividend payout ratio (DPR) is 105.96%.

Institutional Trading of Kayne Anderson BDC

Institutional investors and hedge funds have recently modified their holdings of the business. Generali Investments CEE investicni spolecnost a.s. raised its holdings in shares of Kayne Anderson BDC by 5.5% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 18,184 shares of the company’s stock valued at $277,000 after buying an additional 954 shares in the last quarter. Arcus Capital Partners LLC increased its stake in shares of Kayne Anderson BDC by 8.9% in the third quarter. Arcus Capital Partners LLC now owns 13,475 shares of the company’s stock worth $179,000 after buying an additional 1,100 shares during the period. Magnus Financial Group LLC raised its holdings in Kayne Anderson BDC by 4.1% during the 2nd quarter. Magnus Financial Group LLC now owns 40,861 shares of the company’s stock valued at $624,000 after buying an additional 1,600 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Kayne Anderson BDC by 11.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 16,504 shares of the company’s stock valued at $268,000 after buying an additional 1,690 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Kayne Anderson BDC by 14.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,265 shares of the company’s stock valued at $230,000 after buying an additional 2,203 shares during the period.

About Kayne Anderson BDC

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.