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

Kayne Anderson BDC, Inc. (NYSE:KBDC) shares saw an uptick in trading volume on Monday following a dividend announcement from the company. 180,452 shares were traded during 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 paid 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 annualized dividend and a yield of 9.83%. The ex-dividend date of this dividend is Tuesday, December 31st.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their price objective on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.30.

Kayne Anderson BDC Trading Down 0.7 %

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 company’s 50 day moving average is $16.21.

Hedge Funds Weigh In On Kayne Anderson BDC

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

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.