Magnus Financial Group LLC Makes New $489,000 Investment in Kayne Anderson BDC, Inc. (NYSE:KBDC)

Magnus Financial Group LLC acquired a new position in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,577 shares of the company’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in Kayne Anderson BDC during the third quarter worth $44,000. Franklin Resources Inc. grew its position 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 acquiring an additional 11,289 shares during the period. HB Wealth Management LLC bought a new position in shares of Kayne Anderson BDC in the 4th quarter valued at about $1,591,000. Finally, Confluence Investment Management LLC increased its stake in shares of Kayne Anderson BDC by 15.3% during the 3rd quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock worth $1,682,000 after purchasing an additional 13,788 shares during the last quarter.

Kayne Anderson BDC Stock Down 0.1 %

NYSE:KBDC opened at $16.70 on Thursday. The firm’s fifty day moving average price is $16.66 and its two-hundred day moving average price is $16.33. Kayne Anderson BDC, Inc. has a one year low of $15.69 and a one year high of $17.22. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66.

Kayne Anderson BDC Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 9.58%. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their target price on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Insider Activity at Kayne Anderson BDC

In other news, Director Susan C. Schnabel purchased 2,500 shares of the company’s stock in a transaction that occurred 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 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by company insiders.

Kayne Anderson BDC 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.