Kayne Anderson BDC (NYSE:KBDC) Sees Unusually-High Trading Volume – Should You Buy?

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares saw strong trading volume on Tuesday . 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.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their target price 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 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.30.

Kayne Anderson BDC Trading Up 0.5 %

The firm has a fifty day simple moving average of $16.49. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.60%. This is an increase 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

In other news, Director Susan C. Schnabel bought 2,500 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $16.54 per share, for a total transaction of $41,350.00. Following the acquisition, the director now directly owns 8,087 shares of the company’s stock, valued at $133,758.98. The trade was a 44.75 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KBDC. Confluence Investment Management LLC lifted its holdings in 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 buying an additional 13,788 shares in the last quarter. Franklin Resources Inc. increased its position in shares of 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 acquiring an additional 11,289 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Kayne Anderson BDC in the third quarter valued at $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.