BDC Schnabel Director Kayne Anderson Buys $7.6K in Investing.com Stock

In a recent transaction, Susan C. Schnabel, principal at Kayne Anderson BDC, Inc. (NYSE:KBDC), bought shares in the company. On September 18, 2024, Schnabel purchased 472 shares of common stock at a price of $16.02 per share, for a total investment of $7,561.

This transaction adds to Schnabel’s existing holdings in the company, bringing his total to 5,587 shares following the acquisition. The acquisition reflects a vote of confidence in the business development company, which is known for providing financing to middle-market companies.

Investors often monitor insider trades like these to gauge the sentiment of senior officials within a company. Such acquisitions can be seen as a positive sign that the company’s management believes in the company’s future performance and value.

Kayne Anderson BDC, Inc., headquartered in Houston, Texas, specializes in investing in debt and equity securities of private companies. The company’s shares are traded on the New York Stock Exchange under the symbol NYSE:KBDC.

In other recent news, Kayne Anderson BDC, a Houston-based business development company, confirmed the re-election of its directors and the ratification of its independent auditor, PricewaterhouseCoopers LLP, for the fiscal year ending December 31, 2024. Directors Mariel A Joliet and Rhonda S .Smith were re-elected for a new three-year term, receiving overwhelming support from shareholders. The company’s commitment to transparency and compliance with regulatory requirements has been maintained through these decisions. In terms of analyst coverage, Wells Fargo initiated with an overweight rating, projecting net operating income returns of 12% for 2024 and 11% for 2025. UBS also initiated coverage, projecting a total return of 16, 6% over the next 12 months, while Keefe, Bruyette & Woods started with a Market Perform rating due to the company’s relatively short track record and premium valuation. Finally, RBC Capital initiated coverage with an Outperform rating, noting the company’s attractive dividend yield, estimated at 10% to 11%, and anticipates potential incremental dividends in 2025. These are the recent developments on Kayne Anderson BDC.

InvestingPro Insights

Following the recent acquisition by Principal Susan C. Schnabel, Kayne Anderson BDC, Inc. (NYSE:KBDC) presents a mixed picture according to data from InvestingPro. The company, with a market cap of $1.16 billion and a P/E ratio of 13.43, seems to be trading near its 52-week high, with the price at 97.23% from this peak. This could indicate that the stock is currently favored by the market.

For income-focused investors, Kayne Anderson BDC, Inc. stands out for its substantial dividend yield of 9.85%, significantly higher than the average market yield. Notably, this yield is supported by a consistent dividend policy, with the last ex-dividend date recorded on June 28, 2024. This aligns with InvestingPro Advice that the company pays a significant dividend to shareholders, suggesting it could be an attractive option. for those looking for regular income from their investments.

However, it’s important to note that some analysts have revised down their earnings estimates for the coming period, which could signal caution about the company’s near-term growth prospects. Additionally, the company is noted for poor gross profit margins and a valuation that implies a low free cash flow yield, which are factors investors may want to consider when evaluating the company’s financial health and future performance.

For investors interested in additional information, additional InvestingPro Tips are available for Kayne Anderson BDC, Inc. which can provide a more in-depth analysis. To explore these tips, visit https://www.investing.com/pro/KBDC.

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