Kayne Anderson BDC (NYSE:KBDC) Hits New 12-Month High – Should You Buy?

Kayne Anderson BDC, Inc. (NYSE:KBDC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.22 and last traded at $17.13, with a volume of 22213 shares traded. The stock had previously closed at $16.98.

Analyst Upgrades and Downgrades

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 research report on Monday, November 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Kayne Anderson BDC Stock Up 0.1 %

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 fifty day moving average price is $16.42.

Kayne Anderson BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.40 dividend. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10. This represents a $1.60 annualized dividend and a yield of 9.41%. The ex-dividend date is Tuesday, December 31st.

Institutional Trading of Kayne Anderson BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Kayne Anderson BDC in the third quarter valued at approximately $44,000. Franklin Resources Inc. boosted its stake in Kayne Anderson BDC by 21.1% in the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock valued at $1,033,000 after acquiring an additional 11,289 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in Kayne Anderson BDC by 15.3% in the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock valued at $1,682,000 after acquiring an additional 13,788 shares during the period.

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.