Kayne Anderson BDC (NYSE:KBDC) Sees Large Volume Increase – Here’s Why

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw unusually-high trading volume on Tuesday . Approximately 76,478 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 69,977 shares.The stock last traded at $16.58 and had previously closed at $17.02.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their price target 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, November 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Kayne Anderson BDC Price Performance

The business has a 50-day moving average of $17.01 and a 200 day moving average of $16.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.36.

Kayne Anderson BDC (NYSE:KBDC) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. The business had revenue of $56.34 million during the quarter, compared to analyst estimates of $53.01 million. As a group, sell-side analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Dividend Announcement

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

Insider Buying and Selling

In other Kayne Anderson BDC news, Director Susan C. Schnabel bought 2,500 shares of Kayne Anderson BDC stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $41,350.00. Following the completion of the transaction, the director now owns 8,087 shares of the company’s stock, valued at $133,758.98. This represents a 44.75 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Kayne Anderson BDC during the third quarter worth about $44,000. CIBC Private Wealth Group LLC acquired a new stake in Kayne Anderson BDC during the fourth quarter worth about $46,000. Cerity Partners LLC acquired a new stake in Kayne Anderson BDC during the fourth quarter worth about $170,000. Perigon Wealth Management LLC acquired a new stake in Kayne Anderson BDC during the fourth quarter worth about $169,000. Finally, BIP Wealth LLC acquired a new stake in Kayne Anderson BDC during the fourth quarter worth about $168,000.

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.