Kayne Anderson BDC, Inc. (NYSE:KBDC) Sees Significant Increase in Short Interest

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 52,200 shares, a growth of 127.0% from the December 15th total of 23,000 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 65,700 shares, the short-interest ratio is presently 0.8 days.

Insider Buying and Selling at Kayne Anderson BDC

In related news, Director Susan C. Schnabel purchased 2,500 shares of Kayne Anderson BDC stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $16.54 per share, with a total value of $41,350.00. Following the transaction, the director now directly owns 8,087 shares of the company’s stock, valued at approximately $133,758.98. This trade represents a 44.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently modified their holdings of KBDC. HB Wealth Management LLC purchased a new stake in shares of Kayne Anderson BDC during the 4th quarter valued at $1,591,000. Confluence Investment Management LLC boosted its holdings in Kayne Anderson BDC by 5.9% in the fourth quarter. Confluence Investment Management LLC now owns 109,957 shares of the company’s stock valued at $1,819,000 after acquiring an additional 6,169 shares during the last quarter. Franklin Resources Inc. grew 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 acquiring an additional 11,289 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Kayne Anderson BDC during the third quarter worth about $44,000.

Kayne Anderson BDC Price Performance

KBDC traded up $0.18 during trading on Thursday, reaching $16.70. 50,939 shares of the stock were exchanged, compared to its average volume of 81,758. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.66. Kayne Anderson BDC has a 1 year low of $15.69 and a 1 year high of $17.22. The business’s 50 day moving average price is $16.65 and its two-hundred day moving average price is $16.31.

Kayne Anderson BDC Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.40 dividend. This is an increase from Kayne Anderson BDC’s previous quarterly dividend of $0.10. This represents a $1.60 annualized dividend and a dividend yield of 9.58%. The ex-dividend date of this dividend was Tuesday, December 31st.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised their price objective on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Two 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.30.

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.