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 after the company announced a dividend. Approximately 180,452 shares changed 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.83%. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 31st.

Wall Street Analyst Weigh In

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. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50-day moving average price of $16.21.

Institutional Trading of Kayne Anderson BDC

An institutional investor recently raised its position in Kayne Anderson BDC stock. Confluence Investment Management LLC raised its stake in Kayne Anderson BDC, Inc. (NYSE:KBDC) by 15.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,788 shares of the company’s stock after purchasing an additional 13,788 shares during the quarter. Confluence Investment Management LLC owned approximately 0.15% of Kayne Anderson BDC worth $1,682,000 at the end of the most recent reporting period.

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.