Kayne Anderson BDC, Inc. (NYSE:KBDC) Short Interest Up 127.0% in December

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw a significant 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. Based on an average daily trading volume, of 65,700 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their price target 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.30.

Kayne Anderson BDC Price Performance

Kayne Anderson BDC stock traded up $0.18 during trading on Thursday, reaching $16.70. The company had a trading volume of 64,714 shares, compared to its average volume of 83,442. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36. Kayne Anderson BDC has a 12-month low of $15.69 and a 12-month high of $17.22. The stock’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 company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 9.58%. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Insiders Place Their Bets

In other Kayne Anderson BDC news, Director Susan C. Schnabel acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $16.54 per share, with a total value of $41,350.00. Following the purchase, the director now owns 8,087 shares in the company, valued at approximately $133,758.98. The trade was a 44.75 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently modified their holdings of KBDC. Confluence Investment Management LLC lifted its position in Kayne Anderson BDC by 15.3% during the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock valued at $1,682,000 after buying an additional 13,788 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Kayne Anderson BDC in the third quarter valued at about $44,000. Franklin Resources Inc. lifted its stake in shares of Kayne Anderson BDC by 21.1% during 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 in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in Kayne Anderson BDC in the fourth quarter valued at approximately $1,591,000.

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.