Kayne Anderson BDC (NYSE:KBDC) Sees Large Volume Increase After Dividend Announcement

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw strong trading volume on Monday after the company announced a dividend. 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. Shareholders of record on Tuesday, December 31st will be paid 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 dividend on an annualized basis and a yield of 9.72%.

Analyst Ratings Changes

Separately, Royal Bank of Canada lifted their target price 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. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.30.

Kayne Anderson BDC Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.53 and a current ratio of 1.36. The firm’s fifty day moving average is $16.21.

Institutional Trading of Kayne Anderson BDC

A hedge fund recently raised its stake in Kayne Anderson BDC stock. Confluence Investment Management LLC boosted its holdings in shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) by 15.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 103,788 shares of the company’s stock after acquiring an additional 13,788 shares during the period. Confluence Investment Management LLC owned 0.15% of Kayne Anderson BDC worth $1,682,000 as of its most recent filing with the SEC.

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.