Kayne Anderson BDC (NYSE:KBDC) Sees Strong Trading Volume – Here’s Why

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) saw strong trading volume on Friday . 26,525 shares traded 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 raised their price target on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the company 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. According to data from MarketBeat.com, Kayne Anderson BDC currently has an average rating of “Moderate Buy” and an average target price of $17.30.

Kayne Anderson BDC Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $16.24.

Kayne Anderson BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.60%. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 31st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Confluence Investment Management LLC grew its holdings in shares of 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 buying an additional 13,788 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Kayne Anderson BDC by 21.1% during the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock valued at $1,033,000 after buying an additional 11,289 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Kayne Anderson BDC during the third quarter valued at about $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.