Kayne Anderson BDC (NYSE:KBDC) Sees Unusually-High Trading Volume – Here’s What Happened

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares saw unusually-strong trading volume on Tuesday . Approximately 73,841 shares changed hands during trading, an increase of 36% from the previous session’s volume of 54,425 shares.The stock last traded at $16.71 and had previously closed at $16.58.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their price target on Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.30.

Kayne Anderson BDC Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36. The company’s 50-day moving average is $16.49.

Kayne Anderson BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 9.60%. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 31st.

Insider Buying and Selling at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director Susan C. Schnabel bought 2,500 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $16.54 per share, for a total transaction of $41,350.00. Following the completion of the transaction, the director now directly owns 8,087 shares of the company’s stock, valued at approximately $133,758.98. This represents a 44.75 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.20% of the company’s stock.

Institutional Trading of Kayne Anderson BDC

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in shares of Kayne Anderson BDC in the third quarter valued at approximately $44,000. Franklin Resources Inc. lifted its position in Kayne Anderson BDC by 21.1% during the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock worth $1,033,000 after buying an additional 11,289 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in Kayne Anderson BDC by 15.3% during the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock worth $1,682,000 after buying an additional 13,788 shares during the last 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.