Kayne Anderson BDC (NYSE:KBDC) Hits New 52-Week High - Here's What Happened

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $17.28 and last traded at $17.19, with a volume of 11686 shares changing hands. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada increased their target price on Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an "outperform" rating in a research 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $17.30.

Kayne Anderson BDC Price Performance

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. The company's 50 day moving average price is $16.73 and its 200-day moving average price is $16.36.

Kayne Anderson BDC Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date was Tuesday, December 31st. This is an increase from Kayne Anderson BDC's previous quarterly dividend of $0.10.

Insider Transactions at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director Susan C. Schnabel bought 2,500 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were acquired 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 in the company, valued at approximately $133,758.98. The trade was a 44.75 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.20% of the company's stock.

Institutional Trading of Kayne Anderson BDC

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

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.