Kayne Anderson BDC (NYSE:KBDC) Shares Gap Down – Here’s Why

Kayne Anderson BDC, Inc. (NYSE:KBDC) gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KBDC shares. Bank of America began coverage on shares of Kayne Anderson BDC in a research note on Monday, June 17th. They issued a “buy” rating and a $17.50 price target on the stock. Keefe, Bruyette & Woods raised Kayne Anderson BDC to a “hold” rating and set a $17.00 price objective for the company in a research report on Monday, June 17th. UBS Group raised Kayne Anderson BDC to a “hold” rating and set a $17.00 target price on the stock in a research report on Monday, June 17th. Wells Fargo & Company raised shares of Kayne Anderson BDC to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Monday, June 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Kayne Anderson BDC in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.10.

Kayne Anderson BDC Stock Down 0.3 %

The stock’s fifty day moving average price is $16.12. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52.

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

Kayne Anderson BDC Announces Dividend

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

Insiders Place Their Bets

In other news, Director Mariel A. Joliet acquired 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were acquired at an average cost of $16.14 per share, with a total value of $209,820.00. Following the completion of the purchase, the director now directly owns 13,000 shares of the company’s stock, valued at approximately $209,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.