Kayne Anderson BDC (NYSE:KBDC) Sees Unusually-High Trading Volume After Dividend Announcement

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares saw unusually-strong trading volume on Monday following a dividend announcement from the company. Approximately 180,452 shares traded hands during mid-day trading, an increase of 299% from the previous session’s volume of 45,219 shares.The stock last traded at $16.54 and had previously closed at $16.63.

The newly announced dividend which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.40 per share. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 9.67%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their target price on Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, 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 quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $16.20.

Hedge Funds Weigh In On Kayne Anderson BDC

An institutional investor recently raised its position in Kayne Anderson BDC stock. Confluence Investment Management LLC boosted its holdings in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,788 shares of the company’s stock after buying an additional 13,788 shares during the quarter. Confluence Investment Management LLC owned approximately 0.15% of Kayne Anderson BDC worth $1,682,000 as of its most recent SEC filing.

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.