Kayne Anderson BDC (NYSE:KBDC) Hits New 52-Week High – Time to Buy?

Shares of Kayne Anderson BDC, Inc. (NYSE:KBDC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.22 and last traded at $17.13, with a volume of 22213 shares. The stock had previously closed at $16.98.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upped their target price on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a research note 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’s stock. According to MarketBeat.com, Kayne Anderson BDC has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.36. The business has a 50-day moving average price of $16.40.

Kayne Anderson BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.40 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 9.41%. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds have recently added to or reduced their stakes in KBDC. BNP Paribas Financial Markets bought a new stake in shares of Kayne Anderson BDC during the third quarter worth $44,000. Franklin Resources Inc. increased its position in Kayne Anderson BDC by 21.1% in the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock worth $1,033,000 after purchasing an additional 11,289 shares during the period. Finally, Confluence Investment Management LLC grew its position in shares of Kayne Anderson BDC by 15.3% during the 3rd quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock worth $1,682,000 after buying an additional 13,788 shares during the period.

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.