Kayne Anderson BDC, Inc. (NYSE:KBDC) Shares Shorted: Short Interest Up 58.8% in September

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 682,319 shares, an increase of 58.8% from the September 15th total of 429,789 shares. Based on an average daily trading volume, of 452,488 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.1% of the company’s stock are sold short.

Insiders Place Their Bets

In other Kayne Anderson BDC news, Director James Robo bought 340,000 shares of Kayne Anderson BDC stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the transaction, the director directly owned 400,000 shares of the company’s stock, valued at approximately $5,216,000. This represents a 566.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 766,716 shares of company stock worth $10,002,000. 2.90% of the stock is owned by insiders.

Institutional Trading of Kayne Anderson BDC

Several large investors have recently added to or reduced their stakes in KBDC. Bank of America Corp DE raised its stake in shares of Kayne Anderson BDC by 2.7% in the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock worth $76,355,000 after purchasing an additional 143,854 shares during the last quarter. Columbus Macro LLC lifted its holdings in shares of Kayne Anderson BDC by 6.1% during the third quarter. Columbus Macro LLC now owns 647,693 shares of the company’s stock worth $8,135,000 after purchasing an additional 36,957 shares during the period. Requisite Capital Management LLC lifted its holdings in shares of Kayne Anderson BDC by 6.5% during the second quarter. Requisite Capital Management LLC now owns 645,130 shares of the company’s stock worth $8,987,000 after purchasing an additional 39,385 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Kayne Anderson BDC by 19.1% during the second quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock worth $3,791,000 after purchasing an additional 44,848 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Kayne Anderson BDC by 101.8% in the first quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after buying an additional 73,322 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KBDC. Zacks Research raised Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. UBS Group dropped their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 1st. Finally, Royal Bank Of Canada cut 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 report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.50.

Kayne Anderson BDC Trading Down 1.5%

NYSE:KBDC opened at $12.45 on Friday. Kayne Anderson BDC has a 12 month low of $12.32 and a 12 month high of $15.87. The firm has a fifty day simple moving average of $13.12 and a 200-day simple moving average of $13.79. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $821.87 million, a P/E ratio of 11.42 and a beta of 0.34.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The firm had revenue of $55.70 million for the quarter, compared to analyst estimates of $51.86 million. On average, equities research analysts anticipate that Kayne Anderson BDC will post 1.61 earnings per share for the current year.

Kayne Anderson BDC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 12.9%. Kayne Anderson BDC’s payout ratio is currently 146.79%.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc is a business development company that provides financing to privately held U.S. middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing in the debt and equity securities of companies that may have limited access to traditional financing.

Its investment activities primarily include providing secured loans and other forms of credit, along with potential investments in subordinated debt, preferred equity and common equity.