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

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

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upped their price objective 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 research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.30.

Insider Activity

In related news, Director Susan C. Schnabel acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $16.54 per share, with a total value of $41,350.00. Following the acquisition, the director now directly owns 8,087 shares in the company, valued at $133,758.98. The trade was a 44.75 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is owned by company insiders.

Institutional Trading of Kayne Anderson BDC

Hedge funds have recently made changes to their positions in the business. Summit Trail Advisors LLC acquired a new stake in Kayne Anderson BDC during the 4th quarter valued at $900,000. Apollon Wealth Management LLC bought a new position in shares of Kayne Anderson BDC in the fourth quarter valued at about $210,000. Perigon Wealth Management LLC acquired a new stake in shares of Kayne Anderson BDC during the 4th quarter worth about $169,000. Requisite Capital Management LLC acquired a new stake in shares of Kayne Anderson BDC during the 4th quarter worth about $5,589,000. Finally, Magnus Financial Group LLC bought a new stake in shares of Kayne Anderson BDC during the 4th quarter worth about $489,000.

Kayne Anderson BDC Trading Down 0.4 %

Shares of Kayne Anderson BDC stock traded down $0.06 during trading hours on Wednesday, reaching $16.96. 91,533 shares of the company’s stock were exchanged, compared to its average volume of 105,591. The company has a 50 day moving average of $16.71 and a two-hundred day moving average of $16.36. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. Kayne Anderson BDC has a fifty-two week low of $15.69 and a fifty-two week high of $17.28.

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 paid a $0.40 dividend. This is an increase from Kayne Anderson BDC’s previous quarterly dividend of $0.10. This represents a $1.60 annualized dividend and a yield of 9.43%. The ex-dividend date was Tuesday, December 31st.

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.