Kayne Anderson BDC, Inc. (NYSE:KBDC) Short Interest Update

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 324,408 shares, a decrease of 36.3% from the July 30th total of 509,193 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 444,009 shares, the short-interest ratio is presently 0.7 days.

Kayne Anderson BDC Trading Up 0.1%

Shares of KBDC traded up $0.01 during midday trading on Wednesday, hitting $13.51. The stock had a trading volume of 160,574 shares, compared to its average volume of 334,201. The business has a 50-day simple moving average of $13.61 and a two-hundred day simple moving average of $14.01. The firm has a market cap of $892.31 million, a P/E ratio of 12.37 and a beta of 0.31. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.16. Kayne Anderson BDC has a fifty-two week low of $13.06 and a fifty-two week high of $15.87.

Kayne Anderson BDC (NYSE:KBDC) last released its quarterly 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 business had revenue of $19.27 million for the quarter, compared to analyst estimates of $51.86 million. As a group, equities analysts forecast that Kayne Anderson BDC will post 1.61 EPS for the current year.

Kayne Anderson BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.8%. Kayne Anderson BDC’s dividend payout ratio is presently 146.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KBDC. Advisory Services Network LLC lifted its stake in Kayne Anderson BDC by 16.0% in the 4th quarter. Advisory Services Network LLC now owns 10,206 shares of the company’s stock worth $146,000 after acquiring an additional 1,407 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in Kayne Anderson BDC during the 1st quarter valued at about $155,000. Brevan Howard Capital Management LP purchased a new position in Kayne Anderson BDC during the 3rd quarter valued at about $156,000. Osaic Holdings Inc. increased its holdings in shares of Kayne Anderson BDC by 70.9% in the 2nd quarter. Osaic Holdings Inc. now owns 10,268 shares of the company’s stock valued at $157,000 after purchasing an additional 4,261 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Kayne Anderson BDC in the third quarter worth approximately $172,000.

Analyst Upgrades and Downgrades

KBDC has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada lowered their price objective on shares of Kayne Anderson BDC from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. UBS Group lowered their price target on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.50.

About Kayne Anderson BDC

Kayne Anderson BDC, Inc (NYSE: KBDC) is a closed-end, non-diversified management investment company structured as a business development company under the Investment Company Act of 1940. The firm focuses on providing bespoke financing solutions to U.S. middle-market companies, offering first-lien and second-lien secured loans, unitranche facilities, mezzanine debt and selected equity co-investments. KBDC targets businesses with EBITDA profiles generally ranging from $10 million to $100 million, aiming to generate attractive income and potential capital appreciation for shareholders.

The company’s portfolio spans a variety of sectors, including healthcare, technology, energy services, consumer products and industrials.