Kayne Anderson BDC, Inc. (NYSE:KBDC) Sees Large Growth in Short Interest

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

Kayne Anderson BDC Stock Performance

Shares of NYSE:KBDC traded up $0.17 during trading on Friday, reaching $17.25. 19,202 shares of the company traded hands, compared to its average volume of 100,397. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.36. Kayne Anderson BDC has a 52-week low of $15.69 and a 52-week high of $17.28. The business’s fifty day moving average is $16.73 and its 200-day moving average is $16.36.

Kayne Anderson BDC Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Kayne Anderson BDC

In other Kayne Anderson BDC news, Director Susan C. Schnabel purchased 2,500 shares of the firm’s stock in a transaction 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently modified their holdings of KBDC. Requisite Capital Management LLC purchased a new stake in Kayne Anderson BDC in the fourth quarter worth $5,589,000. Confluence Investment Management LLC lifted its position in shares of Kayne Anderson BDC by 5.9% in the 4th quarter. Confluence Investment Management LLC now owns 109,957 shares of the company’s stock worth $1,819,000 after purchasing an additional 6,169 shares during the period. HB Wealth Management LLC bought a new stake in shares of Kayne Anderson BDC during the 4th quarter valued at about $1,591,000. Franklin Resources Inc. increased its position 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 valued at $1,033,000 after buying an additional 11,289 shares during the period. Finally, Summit Trail Advisors LLC bought a new position in Kayne Anderson BDC in the fourth quarter worth about $900,000.

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.