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

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

Kayne Anderson BDC Stock Down 1.5%

NYSE:KBDC traded down $0.18 on Friday, hitting $12.45. 326,741 shares of the company’s stock were exchanged, compared to its average volume of 372,832. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50-day moving average price of $13.12 and a 200-day moving average price of $13.79. The company has a market cap of $821.87 million, a P/E ratio of 11.42 and a beta of 0.34. Kayne Anderson BDC has a 52 week low of $12.32 and a 52 week high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. As a group, analysts expect that Kayne Anderson BDC will post 1.61 EPS for the current fiscal year.

Kayne Anderson BDC Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on KBDC. Zacks Research raised shares of Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada decreased their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Finally, UBS Group dropped their price objective 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. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.50.

Insider Activity

In other Kayne Anderson BDC news, Director James Robo acquired 340,000 shares of Kayne Anderson BDC stock in a transaction dated Wednesday, September 16th. The stock was bought at an average cost of $13.04 per share, with a total value of $4,433,600.00. Following the acquisition, the director owned 400,000 shares of the company’s stock, valued at approximately $5,216,000. The trade was a 566.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have acquired 766,716 shares of company stock valued at $10,002,000. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Kayne Anderson BDC

Hedge funds have recently modified their holdings of the company. TT Capital Management LLC grew its holdings in shares of Kayne Anderson BDC by 30.5% during the third quarter. TT Capital Management LLC now owns 26,100 shares of the company’s stock worth $328,000 after purchasing an additional 6,100 shares during the last quarter. Columbus Macro LLC increased its stake in shares of Kayne Anderson BDC by 6.1% in the third quarter. Columbus Macro LLC now owns 647,693 shares of the company’s stock valued at $8,135,000 after buying an additional 36,957 shares during the period. Confluence Investment Management LLC raised its holdings in Kayne Anderson BDC by 2.8% in the 3rd quarter. Confluence Investment Management LLC now owns 76,898 shares of the company’s stock valued at $966,000 after buying an additional 2,077 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Kayne Anderson BDC by 126.1% in the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock valued at $307,000 after buying an additional 12,663 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Kayne Anderson BDC during the 2nd quarter worth approximately $147,000.

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.