Kayne Anderson BDC, Inc. (NYSE:KBDC) Sees Significant Decrease in Short Interest

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) saw a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 157,200 shares, a drop of 28.9% from the May 15th total of 221,100 shares. Based on an average daily volume of 159,600 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.2% of the shares of the company are sold short.

Kayne Anderson BDC Price Performance

Shares of NYSE:KBDC traded up $0.26 during midday trading on Friday, hitting $15.86. 90,190 shares of the stock were exchanged, compared to its average volume of 141,870. Kayne Anderson BDC has a twelve month low of $13.93 and a twelve month high of $17.99. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average price of $15.84 and a 200-day moving average price of $16.41. The stock has a market cap of $1.12 billion and a P/E ratio of 8.81.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). Kayne Anderson BDC had a net margin of 56.97% and a return on equity of 11.36%. The business had revenue of $55.25 million during the quarter, compared to analyst estimates of $58.43 million. On average, research analysts forecast that Kayne Anderson BDC will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be issued a $0.10 dividend. The ex-dividend date is Monday, June 9th. This represents a dividend yield of 12.1%. Kayne Anderson BDC's dividend payout ratio (DPR) is 88.89%.

Insider Buying and Selling at Kayne Anderson BDC

In other news, Director Albert Rabil sold 30,000 shares of Kayne Anderson BDC stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.68, for a total value of $470,400.00. Following the sale, the director now owns 121,686 shares of the company's stock, valued at $1,908,036.48. The trade was a 19.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 387,485 shares of company stock worth $6,151,830. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Kayne Anderson BDC

A number of large investors have recently made changes to their positions in KBDC. Millennium Management LLC lifted its holdings in Kayne Anderson BDC by 65.3% in the 4th quarter. Millennium Management LLC now owns 62,500 shares of the company's stock valued at $1,034,000 after purchasing an additional 24,701 shares in the last quarter. Accelerate Investment Advisors LLC acquired a new position in shares of Kayne Anderson BDC in the first quarter valued at approximately $678,000. Janus Henderson Group PLC purchased a new position in shares of Kayne Anderson BDC during the fourth quarter valued at approximately $545,000. Bank of America Corp DE boosted its position in Kayne Anderson BDC by 4,201.5% during the fourth quarter. Bank of America Corp DE now owns 989,008 shares of the company's stock worth $16,358,000 after acquiring an additional 966,016 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in Kayne Anderson BDC in the 4th quarter worth approximately $170,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Kayne Anderson BDC from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada restated an "outperform" rating and set a $17.00 target price on shares of Kayne Anderson BDC in a research report on Monday, May 19th. UBS Group cut their price target on shares of Kayne Anderson BDC from $16.50 to $16.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Kayne Anderson BDC from $17.00 to $16.50 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.

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.