Kayne Anderson BDC (NYSE:KBDC) Sees Large Volume Increase – Here’s Why

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) saw unusually-strong trading volume on Friday . Approximately 26,525 shares changed hands during mid-day trading, a decline of 44% from the previous session’s volume of 47,757 shares.The stock last traded at $16.70 and had previously closed at $16.60.

Analyst Upgrades and Downgrades

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 investment 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 MarketBeat.com, Kayne Anderson BDC has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Trading Up 0.4 %

The business’s fifty day simple moving average is $16.24. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.40 per share. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10. This represents a $1.60 dividend on an annualized basis and a yield of 9.60%. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KBDC. Confluence Investment Management LLC raised its holdings in Kayne Anderson BDC by 15.3% in 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. raised its holdings in Kayne Anderson BDC by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock worth $1,033,000 after purchasing an additional 11,289 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Kayne Anderson BDC in the 3rd quarter worth $44,000.

About Kayne Anderson BDC

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.