Kayne Anderson BDC, Inc. (NYSE:KBDC) Stock Short Interest Report for September

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the target of a large increase in short interest in 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 volume of 452,488 shares, the short-interest ratio is currently 1.5 days. Approximately 1.1% of the shares of the stock are short sold.

Kayne Anderson BDC Trading Down 0.1%

Shares of NYSE KBDC traded down $0.01 during midday trading on Friday, reaching $12.62. 149,749 shares of the stock were exchanged, compared to its average volume of 339,023. The company has a market capitalization of $833.42 million, a P/E ratio of 11.58 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. 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 stock has a 50 day moving average price of $13.15 and a 200-day moving average price of $13.80.

Kayne Anderson BDC (NYSE:KBDC) last posted 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. The business had revenue of $55.70 million during the quarter, compared to analyst estimates of $51.86 million. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. Equities research analysts expect that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 12.7%. Kayne Anderson BDC’s payout ratio is 146.79%.

Insider Activity

In related 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 purchased at an average price of $13.04 per share, with a total value of $4,433,600.00. Following the purchase, the director owned 400,000 shares in the company, valued at $5,216,000. This represents a 566.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders purchased 766,716 shares of company stock worth $10,002,000. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Kayne Anderson BDC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. acquired a new position in Kayne Anderson BDC in the second quarter valued at $147,000. Sovereign Financial Group Inc. acquired a new stake in Kayne Anderson BDC in the 1st quarter worth about $155,000. MQS Management LLC acquired a new stake in Kayne Anderson BDC in the 1st quarter worth about $204,000. Squarepoint Ops LLC boosted its stake in Kayne Anderson BDC by 126.1% in the 2nd quarter. Squarepoint Ops LLC now owns 22,705 shares of the company’s stock worth $307,000 after buying an additional 12,663 shares during the last quarter. Finally, TT Capital Management LLC boosted its stake in Kayne Anderson BDC by 30.5% in the 3rd quarter. TT Capital Management LLC now owns 26,100 shares of the company’s stock worth $328,000 after buying an additional 6,100 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group dropped their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Zacks Research upgraded Kayne Anderson BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Royal Bank Of Canada decreased their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Two research 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, Kayne Anderson BDC presently has an average rating of “Hold” and a consensus target price of $14.50.

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.