Kayne Anderson BDC, Inc. (NYSE:KBDC) Short Interest Up 127.0% in December

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

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their target price on 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 research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.30.

Kayne Anderson BDC Stock Up 1.1 %

KBDC traded up $0.18 on Thursday, reaching $16.70. The stock had a trading volume of 50,939 shares, compared to its average volume of 81,758. The business’s 50-day moving average price is $16.65 and its two-hundred day moving average price is $16.31. Kayne Anderson BDC has a 12-month low of $15.69 and a 12-month high of $17.22. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.66.

Kayne Anderson BDC Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.40 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from Kayne Anderson BDC’s previous quarterly dividend of $0.10. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.58%.

Insider Buying and Selling at Kayne Anderson BDC

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

Institutional Trading of Kayne Anderson BDC

Several hedge funds have recently made changes to their positions in the company. Confluence Investment Management LLC lifted its holdings 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 acquiring an additional 6,169 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Kayne Anderson BDC in the fourth quarter valued at approximately $1,591,000. Franklin Resources Inc. lifted its stake in Kayne Anderson BDC by 21.1% during the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock worth $1,033,000 after purchasing an additional 11,289 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Kayne Anderson BDC during the third quarter worth $44,000.

Kayne Anderson BDC Company Profile

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.