Kayne Anderson BDC (NYSE:KBDC) Reaches New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upped their price target 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Stock Performance

The stock has a 50 day moving average of $16.71 and a two-hundred day moving average of $16.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36.

Kayne Anderson BDC Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 9.43%. This is an increase from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Insider Transactions at Kayne Anderson BDC

In other news, Director Susan C. Schnabel bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $16.54 per share, with a total value of $41,350.00. Following the completion of the transaction, the director now directly owns 8,087 shares in the company, valued at $133,758.98. This represents a 44.75 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Kayne Anderson BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Kayne Anderson BDC during the third quarter worth about $44,000. Perigon Wealth Management LLC bought a new position in Kayne Anderson BDC during the fourth quarter worth about $169,000. Apollon Wealth Management LLC acquired a new position in shares of Kayne Anderson BDC in the fourth quarter valued at $210,000. Magnus Financial Group LLC acquired a new position in shares of Kayne Anderson BDC in the fourth quarter valued at $489,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Kayne Anderson BDC during the fourth quarter worth approximately $900,000.

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.