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

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

Insider Activity

In other news, Director Susan C. Schnabel purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $16.54 per share, with a total value of $41,350.00. Following the completion of the purchase, the director now directly owns 8,087 shares of the company’s stock, valued at $133,758.98. The trade was a 44.75 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Kayne Anderson BDC

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of Kayne Anderson BDC in the third quarter valued at approximately $44,000. Perigon Wealth Management LLC bought a new stake in Kayne Anderson BDC in the 4th quarter valued at $169,000. Apollon Wealth Management LLC bought a new position in shares of Kayne Anderson BDC during the fourth quarter worth about $210,000. Magnus Financial Group LLC bought a new stake in Kayne Anderson BDC in the 4th quarter valued at approximately $489,000. Finally, Summit Trail Advisors LLC acquired a new position in Kayne Anderson BDC during the 4th quarter worth approximately $900,000.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their target price on shares of 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.30.

Kayne Anderson BDC Stock Performance

NYSE KBDC traded up $0.22 during trading on Friday, reaching $17.30. 26,645 shares of the stock traded hands, compared to its average volume of 100,671. Kayne Anderson BDC has a fifty-two week low of $15.69 and a fifty-two week high of $17.28. 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 stock’s 50-day moving average price is $16.73 and its 200 day moving average price is $16.36.

Kayne Anderson BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.25%. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

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.