UBS Group Issues Pessimistic Forecast for Kayne Anderson BDC (NYSE:KBDC) Stock Price

Kayne Anderson BDC (NYSE:KBDC) had its price objective dropped by UBS Group from $15.00 to $14.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 6.25% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Royal Bank Of Canada lowered their price target on Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Wells Fargo & Company decreased their target price on Kayne Anderson BDC from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Finally, Keefe, Bruyette & Woods lowered their target price on Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average 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 business’s 50-day simple moving average is $14.16 and its 200-day simple moving average is $14.43. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.26 and a current ratio of 1.26. Kayne Anderson BDC has a 52 week low of $13.06 and a 52 week high of $16.98. The firm has a market cap of $914.08 million, a price-to-earnings ratio of 10.26 and a beta of 0.23.

Kayne Anderson BDC (NYSE:KBDC) last posted its earnings results on Monday, March 2nd. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of ($25.53) million during the quarter, compared to analyst estimates 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, equities research analysts expect that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Insider Activity at Kayne Anderson BDC

In related news, Director George E. Marucci, Jr. bought 9,000 shares of Kayne Anderson BDC stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $13.74 per share, for a total transaction of $123,660.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately $137,400. This represents a 900.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Kayne Anderson BDC

Several large investors have recently added to or reduced their stakes in KBDC. Koch Inc. acquired a new stake in shares of Kayne Anderson BDC during the 2nd quarter worth approximately $185,887,000. State of Michigan Retirement System acquired a new position in shares of Kayne Anderson BDC in the fourth quarter valued at $94,036,000. Bank of America Corp DE lifted its position 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 during the period. Pathstone Holdings LLC lifted its position 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 worth $19,261,000 after purchasing an additional 1,243,181 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in Kayne Anderson BDC during the fourth quarter worth $11,804,000.

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.