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

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 71,700 shares, a drop of 46.6% from the February 13th total of 134,300 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 119,600 shares, the short-interest ratio is currently 0.6 days.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised their price target on Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Kayne Anderson BDC Stock Up 1.0 %

KBDC traded up $0.16 during trading on Friday, hitting $16.64. The stock had a trading volume of 160,780 shares, compared to its average volume of 77,738. 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 company has a 50 day moving average price of $16.96 and a 200-day moving average price of $16.58. Kayne Anderson BDC has a one year low of $15.69 and a one year high of $17.99.

Kayne Anderson BDC (NYSE:KBDC) last announced its earnings results on Monday, March 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. The business had revenue of $56.34 million during the quarter, compared to the consensus estimate of $53.01 million. On average, equities research analysts anticipate that Kayne Anderson BDC will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.62%.

Insider Activity at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director Susan C. Schnabel bought 2,500 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $16.54 per share, for a total transaction of $41,350.00. Following the purchase, the director now owns 8,087 shares of the company’s stock, valued at $133,758.98. The trade was a 44.75 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in KBDC. Millennium Management LLC grew its position in Kayne Anderson BDC by 65.3% during the fourth quarter. Millennium Management LLC now owns 62,500 shares of the company’s stock worth $1,034,000 after buying an additional 24,701 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Kayne Anderson BDC during the 4th quarter worth $545,000. Cubist Systematic Strategies LLC bought a new position in shares of Kayne Anderson BDC in the fourth quarter worth $245,000. Citadel Advisors LLC raised its stake in Kayne Anderson BDC by 21.1% in the fourth quarter. Citadel Advisors LLC now owns 56,078 shares of the company’s stock valued at $928,000 after purchasing an additional 9,753 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Kayne Anderson BDC by 4,201.5% in the fourth quarter. Bank of America Corp DE now owns 989,008 shares of the company’s stock valued at $16,358,000 after purchasing an additional 966,016 shares in the last quarter.

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.