Kayne Anderson BDC (NYSE:KBDC) Sees Large Volume Increase – Still a Buy?

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares saw an uptick in trading volume on Monday . 271,318 shares traded hands during trading, an increase of 261% from the previous session’s volume of 75,135 shares.The stock last traded at $16.45 and had previously closed at $16.39.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price objective on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.30.

Kayne Anderson BDC Price Performance

The firm’s 50-day moving average is $16.97 and its two-hundred day moving average is $16.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.36.

Kayne Anderson BDC (NYSE:KBDC) last announced its earnings results on Monday, March 3rd. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The firm had revenue of $56.34 million for the quarter, compared to analyst estimates of $53.01 million. Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. On average, sell-side analysts expect that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.69%. The ex-dividend date is Monday, March 31st.

Insider Transactions at Kayne Anderson BDC

In related news, Director Susan C. Schnabel purchased 2,500 shares of the company’s 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 trade represents a 44.75 % increase in their ownership of the stock. The transaction 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

Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its holdings in shares of Kayne Anderson BDC by 65.3% during the 4th quarter. Millennium Management LLC now owns 62,500 shares of the company’s stock worth $1,034,000 after acquiring an additional 24,701 shares during the period. Janus Henderson Group PLC purchased a new position in Kayne Anderson BDC during the fourth quarter worth about $545,000. Cubist Systematic Strategies LLC purchased a new position in Kayne Anderson BDC during the fourth quarter worth about $245,000. Citadel Advisors LLC boosted its holdings in Kayne Anderson BDC by 21.1% in the 4th quarter. Citadel Advisors LLC now owns 56,078 shares of the company’s stock valued at $928,000 after purchasing an additional 9,753 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Kayne Anderson BDC by 4,201.5% in the 4th quarter. Bank of America Corp DE now owns 989,008 shares of the company’s stock valued at $16,358,000 after buying an additional 966,016 shares during the period.

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.