Short Interest in Kayne Anderson BDC, Inc. (NYSE:KBDC) Expands By 41.7%

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 221,100 shares, a growth of 41.7% from the April 30th total of 156,000 shares. Based on an average daily volume of 174,900 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.3% of the company's shares are sold short.

Kayne Anderson BDC Stock Up 0.0%

Kayne Anderson BDC stock traded up $0.01 during midday trading on Tuesday, reaching $15.71. The company's stock had a trading volume of 133,764 shares, compared to its average volume of 91,470. The business has a 50-day simple moving average of $15.83 and a 200-day simple moving average of $16.48. The company has a market cap of $1.11 billion and a P/E ratio of 8.73. Kayne Anderson BDC has a fifty-two week low of $13.93 and a fifty-two week high of $17.99. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.66.

Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). The business had revenue of $55.25 million for the quarter, compared to analysts' expectations of $58.43 million. Kayne Anderson BDC had a return on equity of 12.65% and a net margin of 59.80%. On average, research analysts expect that Kayne Anderson BDC will post 2.06 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on KBDC. Royal Bank of Canada reiterated an "outperform" rating and issued a $17.00 price objective on shares of Kayne Anderson BDC in a research note on Monday, May 19th. UBS Group reduced their price target on Kayne Anderson BDC from $16.50 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price objective on Kayne Anderson BDC from $17.00 to $16.50 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their target price on shares of Kayne Anderson BDC from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $16.60.

Insider Buying and Selling

In related news, Director Albert Rabil sold 30,000 shares of Kayne Anderson BDC stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.68, for a total value of $470,400.00. Following the completion of the sale, the director now owns 121,686 shares in the company, valued at approximately $1,908,036.48. This trade represents a 19.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 387,485 shares of company stock valued at $6,151,830. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 966,016 shares during the last quarter. Sage Mountain Advisors LLC boosted its position in shares of Kayne Anderson BDC by 166.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 541,109 shares of the company's stock valued at $8,777,000 after purchasing an additional 338,043 shares during the period. Requisite Capital Management LLC boosted its position in shares of Kayne Anderson BDC by 10.9% in the 1st quarter. Requisite Capital Management LLC now owns 365,783 shares of the company's stock valued at $6,083,000 after purchasing an additional 35,843 shares during the period. Corient Private Wealth LLC purchased a new position in Kayne Anderson BDC during the 4th quarter worth approximately $4,205,000. Finally, HB Wealth Management LLC increased its position in Kayne Anderson BDC by 79.3% during the first quarter. HB Wealth Management LLC now owns 172,445 shares of the company's stock worth $2,797,000 after buying an additional 76,250 shares during the period.

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.