Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) saw a significant growth in short interest in 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 trading volume, of 174,900 shares, the short-interest ratio is presently 1.3 days. Approximately 0.3% of the shares of the stock are short sold.
Insider Buying and Selling
In related news, Director Albert Rabil sold 30,000 shares of the stock in a transaction on Friday, May 23rd. The stock was 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 in the company, valued at approximately $1,908,036.48. This trade represents a 19.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 387,485 shares of company stock worth $6,151,830. Corporate insiders own 3.20% of the company's stock.
Institutional Investors Weigh In On Kayne Anderson BDC
A number of hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its position in shares of Kayne Anderson BDC by 341.2% during the 1st quarter. Acadian Asset Management LLC now owns 10,788 shares of the company's stock valued at $173,000 after acquiring an additional 8,343 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Kayne Anderson BDC by 119.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,285 shares of the company's stock valued at $491,000 after acquiring an additional 16,501 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Kayne Anderson BDC during the 1st quarter valued at $228,000. Cubist Systematic Strategies LLC boosted its holdings in Kayne Anderson BDC by 11.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 16,504 shares of the company's stock worth $268,000 after buying an additional 1,690 shares during the period. Finally, MAI Capital Management bought a new position in Kayne Anderson BDC in the 1st quarter worth $1,423,000.
Kayne Anderson BDC Stock Performance
KBDC traded up $0.06 during mid-day trading on Thursday, reaching $15.80. 60,040 shares of the company traded hands, compared to its average volume of 91,162. The stock has a market capitalization of $1.12 billion and a P/E ratio of 8.78. 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 company's fifty day moving average price is $15.78 and its 200-day moving average price is $16.47. Kayne Anderson BDC has a 52-week low of $13.93 and a 52-week high of $17.99.
Kayne Anderson BDC (NYSE:KBDC - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.02). Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. The business had revenue of $55.25 million for the quarter, compared to the consensus estimate of $58.43 million. On average, sell-side analysts expect that Kayne Anderson BDC will post 2.06 EPS for the current year.
Kayne Anderson BDC Announces Dividend
The firm also recently disclosed a dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.10 per share. This represents a dividend yield of 12.1%. The ex-dividend date of this dividend is Monday, June 9th. Kayne Anderson BDC's payout ratio is 88.89%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on KBDC shares. Wells Fargo & Company cut their target price 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. UBS Group cut their target price on Kayne Anderson BDC from $16.50 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada reissued an "outperform" rating and issued a $17.00 target price on shares of Kayne Anderson BDC in a research note on Monday, May 19th. Finally, Keefe, Bruyette & Woods cut their target price on Kayne Anderson BDC from $17.00 to $16.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.60.
View Our Latest Stock Analysis on Kayne Anderson BDC
About Kayne Anderson BDC
(
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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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