Kayne Anderson BDC, Inc. (NYSE:KBDC) Short Interest Update
by Scott Moore · The Cerbat GemKayne Anderson BDC, Inc. (NYSE:KBDC – Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 613,478 shares, a growth of 89.1% from the August 15th total of 324,408 shares. Based on an average daily volume of 394,510 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.0% of the shares of the stock are sold short.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Wells Fargo & Company reiterated an “equal weight” rating and set a $14.00 price target (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Zacks Research downgraded shares of Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada dropped their target price 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. Finally, UBS Group cut their target price 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. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kayne Anderson BDC presently has a consensus rating of “Hold” and an average target price of $14.50.
Get Our Latest Stock Report on Kayne Anderson BDC
Kayne Anderson BDC Stock Up 1.5%
NYSE KBDC traded up $0.19 during trading on Thursday, reaching $13.24. 516,080 shares of the company’s stock traded hands, compared to its average volume of 336,345. Kayne Anderson BDC has a 12-month low of $12.88 and a 12-month high of $15.87. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $874.57 million, a price-to-earnings ratio of 12.15 and a beta of 0.32. The company’s 50 day simple moving average is $13.51 and its two-hundred day simple moving average is $13.95.
Kayne Anderson BDC (NYSE:KBDC – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Kayne Anderson BDC had a return on equity of 10.63% and a net margin of 31.54%.The company had revenue of $19.27 million for the quarter, compared to the consensus estimate of $51.86 million. As a group, sell-side analysts forecast that Kayne Anderson BDC will post 1.61 EPS for the current fiscal year.
Kayne Anderson BDC Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 12.1%. Kayne Anderson BDC’s payout ratio is currently 146.79%.
Insider Activity at Kayne Anderson BDC
In other news, Director James Robo acquired 340,000 shares of Kayne Anderson BDC stock in a transaction on Wednesday, September 16th. The shares were acquired at an average price of $13.04 per share, with a total value of $4,433,600.00. Following the purchase, the director directly owned 400,000 shares in the company, valued at $5,216,000. The trade was a 566.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Kayne Anderson BDC by 2.7% during the first quarter. Bank of America Corp DE now owns 5,565,223 shares of the company’s stock valued at $76,355,000 after purchasing an additional 143,854 shares during the period. Renaissance Technologies LLC raised its stake in shares of Kayne Anderson BDC by 101.8% during the 1st quarter. Renaissance Technologies LLC now owns 145,322 shares of the company’s stock valued at $1,994,000 after buying an additional 73,322 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Kayne Anderson BDC by 19.1% in the 2nd quarter. HB Wealth Management LLC now owns 280,189 shares of the company’s stock valued at $3,791,000 after buying an additional 44,848 shares during the period. Closed End Fund Advisors Inc. acquired a new position in shares of Kayne Anderson BDC in the 4th quarter valued at about $1,048,000. Finally, Sei Investments Co. purchased a new stake in shares of Kayne Anderson BDC in the first quarter worth about $730,000.
Kayne Anderson BDC Company Profile
Kayne Anderson BDC, Inc (NYSE: KBDC) is a business development company focused on providing financing to privately held middle-market companies. The company seeks to support businesses that may have limited access to traditional bank lending or public capital markets.
Its investment activities primarily include originating and investing in debt securities, such as senior secured loans, as well as other debt and equity investments. Through these investments, Kayne Anderson BDC aims to provide companies with capital for acquisitions, growth initiatives, refinancing, recapitalizations and other corporate purposes.
Kayne Anderson BDC is externally managed by an affiliate of Kayne Anderson, an investment management firm with experience across alternative asset classes.