Kayne Anderson BDC (NYSE:KBDC) Hits New 1-Year High – What’s Next?

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.28 and last traded at $17.19, with a volume of 11686 shares. The stock had previously closed at $17.19.

Analyst Ratings Changes

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 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 issued a strong buy rating to the company. According to data from MarketBeat, Kayne Anderson BDC presently has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Stock Performance

The firm’s 50-day moving average price is $16.68 and its 200-day moving average price is $16.34. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 9.36%. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, December 31st.

Insider Activity

In other Kayne Anderson BDC news, Director Susan C. Schnabel bought 2,500 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of $16.54 per share, with a total value of $41,350.00. Following the completion of the purchase, the director now owns 8,087 shares in the company, valued at $133,758.98. This represents a 44.75 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Kayne Anderson BDC

A number of large investors have recently bought and sold shares of KBDC. BNP Paribas Financial Markets bought a new stake in shares of Kayne Anderson BDC during the third quarter valued at approximately $44,000. Perigon Wealth Management LLC purchased a new position in Kayne Anderson BDC during the 4th quarter worth $169,000. Magnus Financial Group LLC purchased a new stake in shares of Kayne Anderson BDC in the 4th quarter worth $489,000. Franklin Resources Inc. grew its position in shares of Kayne Anderson BDC by 21.1% during the 3rd 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, HB Wealth Management LLC bought a new position in shares of Kayne Anderson BDC during the 4th quarter worth $1,591,000.

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.