Short Interest in Kayne Anderson BDC, Inc. (NYSE:KBDC) Rises By 31.1%

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 506,873 shares, a growth of 31.1% from the January 29th total of 386,758 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 420,335 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 420,335 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.8% of the shares of the company are sold short.

Kayne Anderson BDC Price Performance

Shares of NYSE:KBDC traded up $0.06 during midday trading on Wednesday, reaching $13.90. 549,185 shares of the company were exchanged, compared to its average volume of 417,410. The company has a current ratio of 1.26, a quick ratio of 1.46 and a debt-to-equity ratio of 1.01. The stock has a market cap of $931.02 million, a PE ratio of 10.45 and a beta of 0.23. The business’s fifty day moving average is $14.27 and its two-hundred day moving average is $14.49. Kayne Anderson BDC has a one year low of $13.06 and a one year high of $16.98.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Kayne Anderson BDC had a net margin of 39.74% and a return on equity of 10.23%. The business had revenue of ($25.53) million during the quarter, compared to the consensus estimate of $56.48 million. As a group, analysts predict that Kayne Anderson BDC will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Tuesday, March 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 11.5%. Kayne Anderson BDC’s payout ratio is presently 105.96%.

Wall Street Analysts Forecast Growth

KBDC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their target price on Kayne Anderson BDC from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Royal Bank Of Canada lowered their price target on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KBDC. Koch Inc. purchased a new position in shares of Kayne Anderson BDC during the 2nd quarter worth about $185,887,000. State of Michigan Retirement System bought a new stake in Kayne Anderson BDC in the fourth quarter worth about $94,036,000. Bank of America Corp DE boosted its position in shares of Kayne Anderson BDC by 13.4% during the third quarter. Bank of America Corp DE now owns 5,211,124 shares of the company’s stock valued at $69,412,000 after buying an additional 614,393 shares during the period. Pathstone Holdings LLC grew its stake in shares of Kayne Anderson BDC by 612.8% during the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock valued at $19,261,000 after buying an additional 1,243,181 shares during the last quarter. Finally, Sage Mountain Advisors LLC grew its stake in shares of Kayne Anderson BDC by 13.8% during the third quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company’s stock valued at $14,099,000 after buying an additional 128,061 shares during the last quarter.

Kayne Anderson BDC Company Profile

Kayne Anderson BDC, Inc (NYSE: KBDC) is a closed-end, non-diversified management investment company structured as a business development company under the Investment Company Act of 1940. The firm focuses on providing bespoke financing solutions to U.S. middle-market companies, offering first-lien and second-lien secured loans, unitranche facilities, mezzanine debt and selected equity co-investments. KBDC targets businesses with EBITDA profiles generally ranging from $10 million to $100 million, aiming to generate attractive income and potential capital appreciation for shareholders.

The company’s portfolio spans a variety of sectors, including healthcare, technology, energy services, consumer products and industrials.