Kayne Anderson BDC, Inc. (NYSE:KBDC) Director Acquires $41,350.00 in Stock

Kayne Anderson BDC, Inc. (NYSE:KBDC) Director Susan C. Schnabel bought 2,500 shares of Kayne Anderson BDC 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 completion of the acquisition, the director now owns 8,087 shares of the company’s stock, valued at approximately $133,758.98. This represents a 44.75 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Kayne Anderson BDC Price Performance

Shares of KBDC remained flat at $16.43 during midday trading on Thursday. The company’s stock had a trading volume of 123,667 shares, compared to its average volume of 53,279. 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 business’s fifty day simple moving average is $16.46. Kayne Anderson BDC, Inc. has a 1 year low of $15.69 and a 1 year high of $17.22.

Kayne Anderson BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.74%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

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 note on Monday, November 18th. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.30.

Hedge Funds Weigh In On Kayne Anderson BDC

A number of large investors have recently bought and sold shares of the company. Confluence Investment Management LLC increased its position in shares of Kayne Anderson BDC by 15.3% in the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock valued at $1,682,000 after acquiring an additional 13,788 shares during the last quarter. Franklin Resources Inc. boosted its position in Kayne Anderson BDC by 21.1% during the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock valued at $1,033,000 after purchasing an additional 11,289 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Kayne Anderson BDC in the third quarter valued at approximately $44,000.

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.