Kayne Anderson BDC (NYSE:KBDC) Reaches New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their price objective on Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.30.

Kayne Anderson BDC Stock Performance

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 company’s 50-day moving average price is $16.83 and its 200 day moving average price is $16.43.

Kayne Anderson BDC Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 3rd.

Insider Activity

In other Kayne Anderson BDC news, Director Susan C. Schnabel bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $16.54 per share, with a total value of $41,350.00. Following the purchase, the director now owns 8,087 shares of the company’s stock, valued at $133,758.98. This trade represents a 44.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBDC. Requisite Capital Management LLC purchased a new position in shares of Kayne Anderson BDC in the fourth quarter worth $5,589,000. Corient Private Wealth LLC bought a new stake in Kayne Anderson BDC in the 4th quarter valued at $4,205,000. Sage Mountain Advisors LLC purchased a new stake in Kayne Anderson BDC in the 4th quarter worth $3,359,000. HB Wealth Management LLC bought a new position in shares of Kayne Anderson BDC during the 4th quarter valued at about $1,591,000. Finally, Centric Wealth Management purchased a new position in shares of Kayne Anderson BDC during the fourth quarter valued at about $1,179,000.

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.