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

Kayne Anderson BDC, Inc. (NYSE:KBDC)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $18.00 and last traded at $17.12, with a volume of 206 shares changing hands. The stock had previously closed at $17.30.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped 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 equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36. The stock’s 50 day simple moving average is $16.75 and its 200 day simple moving average is $16.37.

Kayne Anderson BDC Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd will be given a $0.10 dividend. The ex-dividend date is Monday, March 3rd.

Insider Activity at Kayne Anderson BDC

In other news, Director Susan C. Schnabel purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $16.54 per share, for a total transaction of $41,350.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBDC. Requisite Capital Management LLC purchased a new position in Kayne Anderson BDC during the fourth quarter valued at $5,589,000. HB Wealth Management LLC purchased a new position in Kayne Anderson BDC during the fourth quarter valued at $1,591,000. Summit Trail Advisors LLC purchased a new position in Kayne Anderson BDC during the fourth quarter valued at $900,000. Magnus Financial Group LLC purchased a new position in Kayne Anderson BDC during the fourth quarter valued at $489,000. Finally, Confluence Investment Management LLC lifted its holdings in Kayne Anderson BDC by 15.3% during the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock valued at $1,682,000 after purchasing an additional 13,788 shares in the last quarter.

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.