Kayne Anderson BDC (NYSE:KBDC) Shares Gap Down to $16.21

Kayne Anderson BDC, Inc. (NYSE:KBDC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $16.21, but opened at $15.85. Kayne Anderson BDC shares last traded at $15.85, with a volume of 3,115 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group upgraded shares of Kayne Anderson BDC to a “hold” rating and set a $17.00 target price for the company in a report on Monday, June 17th. Bank of America assumed coverage on shares of Kayne Anderson BDC in a research report on Monday, June 17th. They set a “buy” rating and a $17.50 target price for the company. Wells Fargo & Company raised shares of Kayne Anderson BDC to a “strong-buy” rating and set a $17.00 price target on the stock in a research note on Monday, June 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Kayne Anderson BDC in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods upgraded shares of Kayne Anderson BDC to a “hold” rating and set a $17.00 target price on the stock in a report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kayne Anderson BDC presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.10.

Kayne Anderson BDC Stock Performance

The company’s 50 day simple moving average is $16.13. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.52.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $52.45 million during the quarter. Kayne Anderson BDC had a return on equity of 11.79% and a net margin of 52.29%. As a group, analysts forecast that Kayne Anderson BDC, Inc. will post 2.03 EPS for the current year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.04%. The ex-dividend date of this dividend is Monday, September 30th.

Insider Activity

In other Kayne Anderson BDC news, Director Mariel A. Joliet acquired 13,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were acquired at an average price of $16.14 per share, for a total transaction of $209,820.00. Following the acquisition, the director now owns 13,000 shares in the company, valued at approximately $209,820. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

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.