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

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the target of a large growth in short interest in the month of 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. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 65,700 shares, the short-interest ratio is currently 0.8 days.

Kayne Anderson BDC Stock Up 1.1 %

Shares of KBDC stock traded up $0.18 during mid-day trading on Thursday, hitting $16.70. 64,714 shares of the stock traded hands, compared to its average volume of 83,442. Kayne Anderson BDC has a twelve month low of $15.69 and a twelve 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. The company’s 50-day simple moving average is $16.65 and its 200-day simple moving average is $16.31.

Kayne Anderson BDC Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their target price on Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Insider Activity

In other news, Director Susan C. Schnabel bought 2,500 shares of Kayne Anderson BDC stock in a transaction on Wednesday, December 18th. The stock was purchased at an average cost of $16.54 per share, with a total value of $41,350.00. Following the purchase, the director now directly owns 8,087 shares of the company’s stock, valued at approximately $133,758.98. This trade represents a 44.75 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Kayne Anderson BDC

Several large investors have recently made changes to their positions in the business. HB Wealth Management LLC acquired a new stake in shares of Kayne Anderson BDC during the fourth quarter worth $1,591,000. Confluence Investment Management LLC grew its position in Kayne Anderson BDC by 5.9% during the fourth quarter. Confluence Investment Management LLC now owns 109,957 shares of the company’s stock valued at $1,819,000 after purchasing an additional 6,169 shares in the last quarter. Franklin Resources Inc. increased its stake in Kayne Anderson BDC by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock valued at $1,033,000 after buying an additional 11,289 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Kayne Anderson BDC in the 3rd quarter worth approximately $44,000.

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.