Short Interest in Kayne Anderson BDC, Inc. (NYSE:KBDC) Expands By 64.2%

Key Points

• The short interest in Kayne Anderson BDC significantly increased by 64.2% in September, totaling 392,300 shares as of the end of the month.
• The company declared a quarterly dividend of $0.40 per share with a resulting annualized dividend yield of 11.4%.
• Analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and a price target averaging $16.13.

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 392,300 shares, an increase of 64.2% from the September 15th total of 238,900 shares. Based on an average daily volume of 250,100 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.8% of the company's stock are short sold. Approximately 0.8% of the company's stock are short sold. Based on an average daily volume of 250,100 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Trading of Kayne Anderson BDC

A number of institutional investors have recently modified their holdings of the business. Koch Inc. purchased a new stake in shares of Kayne Anderson BDC during the 2nd quarter valued at approximately $185,887,000. Bank of America Corp DE lifted its stake in shares of Kayne Anderson BDC by 180.1% during the 2nd quarter. Bank of America Corp DE now owns 4,596,731 shares of the company's stock valued at $70,146,000 after buying an additional 2,955,661 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Kayne Anderson BDC during the 2nd quarter valued at approximately $26,525,000. Sage Mountain Advisors LLC lifted its stake in shares of Kayne Anderson BDC by 71.9% during the 2nd quarter. Sage Mountain Advisors LLC now owns 930,426 shares of the company's stock valued at $14,198,000 after buying an additional 389,317 shares in the last quarter. Finally, Requisite Capital Management LLC lifted its stake in shares of Kayne Anderson BDC by 130.4% during the 2nd quarter. Requisite Capital Management LLC now owns 842,721 shares of the company's stock valued at $13,197,000 after buying an additional 476,938 shares in the last quarter.

Kayne Anderson BDC Stock Performance

KBDC traded down $0.06 during midday trading on Wednesday, reaching $14.00. The company had a trading volume of 231,306 shares, compared to its average volume of 456,717. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $987.77 million, a PE ratio of 8.28 and a beta of 0.14. Kayne Anderson BDC has a 12-month low of $13.06 and a 12-month high of $17.99. The business has a 50-day moving average price of $14.40 and a two-hundred day moving average price of $15.27.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last released its earnings results on Monday, August 11th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.01). The company had revenue of $57.30 million during the quarter, compared to analysts' expectations of $49.37 million. Kayne Anderson BDC had a net margin of 52.99% and a return on equity of 10.90%. On average, sell-side analysts expect that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date was Tuesday, September 30th. Kayne Anderson BDC's dividend payout ratio is presently 94.67%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Kayne Anderson BDC from a "market perform" rating to an "outperform" rating and set a $16.50 price target on the stock in a report on Monday, October 6th. UBS Group cut their price target on shares of Kayne Anderson BDC from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Kayne Anderson BDC has a consensus rating of "Moderate Buy" and a consensus price target of $16.13.

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.

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