Kayne Anderson BDC, Inc. $KBDC Shares Purchased by Callodine Capital Management LP

Callodine Capital Management LP raised its stake in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) by 18.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 400,000 shares of the company’s stock after acquiring an additional 62,270 shares during the quarter. Callodine Capital Management LP owned approximately 0.58% of Kayne Anderson BDC worth $5,328,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Koch Inc. acquired a new stake in shares of Kayne Anderson BDC in the 2nd quarter valued at about $185,887,000. Bank of America Corp DE grew its stake in Kayne Anderson BDC by 180.1% in the second quarter. Bank of America Corp DE now owns 4,596,731 shares of the company’s stock worth $70,146,000 after purchasing an additional 2,955,661 shares in the last quarter. Pathstone Holdings LLC increased its holdings in Kayne Anderson BDC by 612.8% in the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock valued at $19,261,000 after buying an additional 1,243,181 shares during the last quarter. Sage Mountain Advisors LLC increased its holdings in Kayne Anderson BDC by 13.8% in the third quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company’s stock valued at $14,099,000 after buying an additional 128,061 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Kayne Anderson BDC by 37.8% during the third quarter. Franklin Resources Inc. now owns 308,220 shares of the company’s stock valued at $4,105,000 after buying an additional 84,563 shares in the last quarter.

Wall Street Analyst Weigh In

KBDC has been the topic of a number of research analyst reports. UBS Group reduced their target price on Kayne Anderson BDC from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company dropped their price target on Kayne Anderson BDC from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods reduced their price objective on Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, Royal Bank Of Canada decreased their price objective on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Kayne Anderson BDC Stock Performance

Shares of NYSE KBDC opened at $13.65 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average price is $14.16 and its two-hundred day moving average price is $14.44. Kayne Anderson BDC, Inc. has a 52-week low of $13.06 and a 52-week high of $16.98. The stock has a market capitalization of $914.08 million, a P/E ratio of 10.26 and a beta of 0.23.

Kayne Anderson BDC (NYSE:KBDC) last issued its earnings results on Monday, March 2nd. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of ($25.53) million during the quarter, compared to the consensus estimate of $56.48 million. Kayne Anderson BDC had a return on equity of 10.23% and a net margin of 39.74%. As a group, sell-side analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date is Tuesday, March 31st. Kayne Anderson BDC’s dividend payout ratio is presently 120.30%.

Insider Buying and Selling

In related news, Director George E. Marucci, Jr. bought 9,000 shares of the company’s stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $13.74 per share, with a total value of $123,660.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at approximately $137,400. This represents a 900.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

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.