Kayne Anderson BDC, Inc. (NYSE:KBDC) Short Interest Up 89.1% in August

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 613,478 shares, an increase of 89.1% from the August 15th total of 324,408 shares. Based on an average trading volume of 394,510 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the company’s stock are short sold.

Kayne Anderson BDC Trading Up 1.5%

Kayne Anderson BDC stock opened at $13.24 on Friday. The company’s fifty day moving average price is $13.50 and its two-hundred day moving average price is $13.95. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25. Kayne Anderson BDC has a one year low of $12.88 and a one year high of $15.87. The company has a market capitalization of $874.57 million, a price-to-earnings ratio of 12.15 and a beta of 0.32.

Kayne Anderson BDC (NYSE:KBDC) last posted its earnings results on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%.The firm had revenue of $19.27 million during the quarter, compared to analyst estimates of $51.86 million. On average, analysts forecast that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.1%. The ex-dividend date is Wednesday, September 30th. Kayne Anderson BDC’s dividend payout ratio (DPR) is 146.79%.

Insider Buying and Selling at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director James Robo bought 340,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were bought at an average price of $13.04 per share, for a total transaction of $4,433,600.00. Following the acquisition, the director directly owned 400,000 shares of the company’s stock, valued at approximately $5,216,000. This trade represents a 566.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds have recently bought and sold shares of KBDC. Squarepoint Ops LLC lifted its position in shares of Kayne Anderson BDC by 126.1% during the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after purchasing an additional 12,663 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in Kayne Anderson BDC in the 2nd quarter valued at approximately $147,000. HB Wealth Management LLC grew its holdings in Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after buying an additional 44,848 shares during the last quarter. Requisite Capital Management LLC increased its position in Kayne Anderson BDC by 6.5% in the 2nd quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock worth $8,987,000 after buying an additional 39,385 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in Kayne Anderson BDC by 46.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 99,755 shares of the company’s stock worth $1,350,000 after buying an additional 31,444 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently commented on KBDC shares. Zacks Research cut shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Royal Bank Of Canada dropped their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. UBS Group cut their target price on shares of Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.50.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.

Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.

Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.