Kayne Anderson BDC (NYSE:KBDC) Hits New 52-Week High – Still a Buy?

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) hit a new 52-week high during trading on Thursday . The company traded as high as $16.80 and last traded at $16.80, with a volume of 12068 shares traded. The stock had previously closed at $16.68.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of Kayne Anderson BDC in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.10.

Kayne Anderson BDC Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.53 and a quick ratio of 0.53. The company’s 50 day simple moving average is $16.18.

Kayne Anderson BDC (NYSE:KBDC) last released its 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 firm had revenue of $52.45 million for the quarter. Kayne Anderson BDC had a return on equity of 11.79% and a net margin of 52.29%. Sell-side analysts forecast that Kayne Anderson BDC, Inc. will post 2.03 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.39%.

Institutional Investors Weigh In On Kayne Anderson BDC

A hedge fund recently raised its stake in Kayne Anderson BDC stock. Confluence Investment Management LLC increased its holdings in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,788 shares of the company’s stock after purchasing an additional 13,788 shares during the period. Confluence Investment Management LLC owned approximately 0.15% of Kayne Anderson BDC worth $1,682,000 at the end of the most recent quarter.

Kayne Anderson BDC Company Profile

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.