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

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) saw an uptick in trading volume on Tuesday . 73,841 shares traded 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 shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Price Performance

The stock’s 50 day simple moving average is $16.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36.

Kayne Anderson BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.60 annualized dividend and a yield of 9.65%. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Confluence Investment Management LLC increased its holdings in Kayne Anderson BDC by 15.3% in the 3rd quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock worth $1,682,000 after acquiring an additional 13,788 shares during the last quarter. Franklin Resources Inc. boosted 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 purchasing an additional 11,289 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Kayne Anderson BDC during the third quarter worth about $44,000.

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.