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

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares saw unusually-strong trading volume on Tuesday . Approximately 73,841 shares were traded 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.

Analysts Set New Price Targets

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

Kayne Anderson BDC Price Performance

The company’s 50 day moving average price is $16.51. 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 will be paid on Wednesday, January 15th. Shareholders 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 yield of 9.65%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Insider Transactions at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director Susan C. Schnabel acquired 2,500 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $16.54 per share, for a total transaction of $41,350.00. Following the completion of the acquisition, the director now directly owns 8,087 shares of the company’s stock, valued at $133,758.98. This represents a 44.75 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

Several large investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC increased 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 purchasing an additional 13,788 shares in the last quarter. Franklin Resources Inc. grew its holdings 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 buying an additional 11,289 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Kayne Anderson BDC in the 3rd 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.