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

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) saw unusually-strong trading volume on Friday . Approximately 88,272 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 95,062 shares.The stock last traded at $17.14 and had previously closed at $16.96.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their price target on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.30.

Kayne Anderson BDC Stock Performance

The company’s fifty day moving average price is $16.73 and its two-hundred day moving average price is $16.36. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.66.

Kayne Anderson BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.40 per share. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 9.25%.

Insider Transactions at Kayne Anderson BDC

In related news, Director Susan C. Schnabel purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $16.54 per share, with a total value of $41,350.00. Following the completion of the purchase, the director now directly owns 8,087 shares of the company’s stock, valued at $133,758.98. This trade 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 hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Requisite Capital Management LLC bought a new stake in shares of Kayne Anderson BDC during the fourth quarter worth $5,589,000. Confluence Investment Management LLC increased its position in Kayne Anderson BDC by 5.9% in the fourth quarter. Confluence Investment Management LLC now owns 109,957 shares of the company’s stock worth $1,819,000 after purchasing an additional 6,169 shares during the period. HB Wealth Management LLC acquired a new position in Kayne Anderson BDC during the 4th quarter valued at about $1,591,000. Franklin Resources Inc. boosted its stake in shares of Kayne Anderson BDC by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock valued at $1,033,000 after purchasing an additional 11,289 shares during the last quarter. Finally, Summit Trail Advisors LLC acquired a new stake in shares of Kayne Anderson BDC during the 4th quarter worth approximately $900,000.

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.