Kayne Anderson BDC (NYSE:KBDC) Sees Unusually-High Trading Volume – Here’s Why

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) saw strong trading volume on Monday . 271,318 shares traded hands during mid-day trading, an increase of 261% from the previous session’s volume of 75,135 shares.The stock last traded at $16.45 and had previously closed at $16.39.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their price objective 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 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 stock. According to MarketBeat, Kayne Anderson BDC has a consensus rating of “Moderate Buy” and an average target price of $17.30.

Kayne Anderson BDC Price Performance

The firm’s 50 day moving average is $16.97 and its 200 day moving average is $16.58. 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 announced its 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 return on equity of 12.65% and a net margin of 59.80%. The business had revenue of $56.34 million for the quarter, compared to analysts’ expectations of $53.01 million. Research analysts forecast that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.60 annualized dividend and a dividend yield of 9.69%.

Insider Buying and Selling

In other news, Director Susan C. Schnabel purchased 2,500 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of $16.54 per share, for a total transaction of $41,350.00. Following the purchase, the director now owns 8,087 shares in the company, valued at $133,758.98. This trade represents a 44.75 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of large investors have recently bought and sold shares of KBDC. Millennium Management LLC raised its holdings in shares of Kayne Anderson BDC by 65.3% during the fourth quarter. Millennium Management LLC now owns 62,500 shares of the company’s stock worth $1,034,000 after purchasing an additional 24,701 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Kayne Anderson BDC during the 4th quarter valued at about $545,000. Cubist Systematic Strategies LLC acquired a new position in shares of Kayne Anderson BDC in the 4th quarter valued at about $245,000. Citadel Advisors LLC boosted its stake in shares of Kayne Anderson BDC by 21.1% in the fourth quarter. Citadel Advisors LLC now owns 56,078 shares of the company’s stock worth $928,000 after buying an additional 9,753 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Kayne Anderson BDC by 4,201.5% during the fourth quarter. Bank of America Corp DE now owns 989,008 shares of the company’s stock worth $16,358,000 after acquiring an additional 966,016 shares during the 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.