Kayne Anderson BDC, Inc. (NYSE:KBDC) Stock Short Interest Report for September

Key Points

• Short interest surged 58.8% to 682,319 shares as of September 30, representing 1.1% of KBDC’s shares and 1.5 days to cover.
• KBDC traded at $12.62, near its 52-week low, while its latest quarterly results exceeded expectations with $0.42 EPS and $55.7 million in revenue.
• The company declared a quarterly dividend of $0.40, equal to a 12.7% annualized yield, but analysts maintained a consensus “Hold” rating after lowering price targets.

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 682,319 shares, a growth of 58.8% from the September 15th total of 429,789 shares. Based on an average daily volume of 452,488 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.1% of the shares of the company are short sold.

Kayne Anderson BDC Price Performance

KBDC stock traded down $0.01 during trading on Friday, reaching $12.62. 149,749 shares of the company were exchanged, compared to its average volume of 339,023. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.25. The stock's 50 day moving average price is $13.15 and its 200 day moving average price is $13.80. Kayne Anderson BDC has a 52-week low of $12.32 and a 52-week high of $15.87. The company has a market cap of $833.42 million, a P/E ratio of 11.58 and a beta of 0.34.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a net margin of 31.54% and a return on equity of 10.63%. The company had revenue of $55.70 million during the quarter, compared to analysts' expectations of $51.86 million. As a group, analysts predict that Kayne Anderson BDC will post 1.61 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 12.7%. Kayne Anderson BDC's dividend payout ratio is 146.79%.

Insiders Place Their Bets

In other Kayne Anderson BDC news, Director James Robo bought 146,755 shares of the company's stock in a transaction on Monday, September 28th. The shares were bought at an average price of $13.03 per share, for a total transaction of $1,912,217.65. Following the transaction, the director owned 766,716 shares of the company's stock, valued at approximately $9,990,309.48. This trade represents a 23.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders purchased 766,716 shares of company stock valued at $10,002,000. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new stake in shares of Kayne Anderson BDC in the 2nd quarter worth about $147,000. Sovereign Financial Group Inc. purchased a new position in Kayne Anderson BDC during the 1st quarter valued at about $155,000. MQS Management LLC purchased a new position in Kayne Anderson BDC during the 1st quarter valued at about $204,000. Squarepoint Ops LLC raised its position in Kayne Anderson BDC by 126.1% during the second quarter. Squarepoint Ops LLC now owns 22,705 shares of the company's stock worth $307,000 after acquiring an additional 12,663 shares during the last quarter. Finally, TT Capital Management LLC raised its position in Kayne Anderson BDC by 30.5% during the third quarter. TT Capital Management LLC now owns 26,100 shares of the company's stock worth $328,000 after acquiring an additional 6,100 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on KBDC shares. UBS Group decreased their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a "neutral" rating on the stock in a research note on Tuesday, September 1st. Zacks Research upgraded Kayne Anderson BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Finally, Royal Bank Of Canada cut their price objective on Kayne Anderson BDC from $16.00 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $14.50.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc is a business development company that provides financing to privately held U.S. middle-market businesses. The company seeks to generate income and long-term capital appreciation by investing in the debt and equity securities of companies that may have limited access to traditional financing.

Its investment activities primarily include providing secured loans and other forms of credit, along with potential investments in subordinated debt, preferred equity and common equity.

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