Kayne Anderson BDC (NYSE:KBDC) Hits New 52-Week High – Time to Buy?

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.35 and last traded at $17.28, with a volume of 4997 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upped their price target on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Two investment 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. Based on data from MarketBeat.com, Kayne Anderson BDC currently has an average rating of “Moderate Buy” and an average price target of $17.30.

Kayne Anderson BDC Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.36. The firm’s 50-day simple moving average is $16.81 and its 200 day simple moving average is $16.42.

Kayne Anderson BDC Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd will be issued a $0.10 dividend. The ex-dividend date is Monday, March 3rd.

Insider Buying and Selling

In other Kayne Anderson BDC news, Director Susan C. Schnabel purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $16.54 per share, with a total value of $41,350.00. Following the completion of the transaction, the director now owns 8,087 shares in the company, valued at $133,758.98. The trade was a 44.75 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC raised its holdings in shares of Kayne Anderson BDC by 15.3% during the 3rd quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock worth $1,682,000 after buying an additional 13,788 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Kayne Anderson BDC in the 3rd quarter valued at about $44,000. Franklin Resources Inc. raised its stake in Kayne Anderson BDC by 21.1% during the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock worth $1,033,000 after buying an additional 11,289 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Kayne Anderson BDC in the 4th quarter valued at about $1,591,000. Finally, Magnus Financial Group LLC acquired a new position in shares of Kayne Anderson BDC during the 4th quarter valued at $489,000.

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.