Kayne Anderson BDC (NYSE:KBDC) Sees Large Volume Increase After Dividend Announcement

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) saw unusually-high trading volume on Tuesday following a dividend announcement from the company. Approximately 76,478 shares were traded 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.

The newly announced dividend which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.77%. The ex-dividend date is Monday, March 31st.

Wall Street Analyst Weigh In

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

Kayne Anderson BDC Price Performance

The firm has a 50-day moving average of $16.98 and a two-hundred day moving average of $16.57. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last announced 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). The company had revenue of $56.34 million for the quarter, compared to analysts' expectations of $53.01 million. Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. As a group, equities analysts predict that Kayne Anderson BDC, Inc. will post 2.06 earnings per share for the current year.

Remove Ads

Insider Activity at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director Susan C. Schnabel acquired 2,500 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was acquired 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 directly owns 8,087 shares of the company's stock, valued at $133,758.98. This represents a 44.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Trading of Kayne Anderson BDC

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its position in shares of Kayne Anderson BDC by 4,201.5% in the fourth quarter. Bank of America Corp DE now owns 989,008 shares of the company's stock valued at $16,358,000 after buying an additional 966,016 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at approximately $5,589,000. Corient Private Wealth LLC purchased a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at approximately $4,205,000. Sage Mountain Advisors LLC purchased a new stake in shares of Kayne Anderson BDC in the fourth quarter valued at approximately $3,359,000. Finally, Renaissance Technologies LLC increased its position in shares of Kayne Anderson BDC by 584.4% in the fourth quarter. Renaissance Technologies LLC now owns 145,100 shares of the company's stock valued at $2,400,000 after buying an additional 123,900 shares in the last quarter.

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.