Short Interest in Kayne Anderson BDC, Inc. (NYSE:KBDC) Declines By 19.3%

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 514,661 shares, a drop of 19.3% from the March 31st total of 637,384 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 293,716 shares, the short-interest ratio is presently 1.8 days.

Insider Activity

In other news, Director George E. Marucci, Jr. purchased 9,000 shares of Kayne Anderson BDC stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $13.74 per share, with a total value of $123,660.00. Following the transaction, the director owned 10,000 shares in the company, valued at $137,400. This represents a 900.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kayne Anderson BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Koch Inc. purchased a new stake in Kayne Anderson BDC during the second quarter worth about $185,887,000. State of Michigan Retirement System purchased a new position in shares of Kayne Anderson BDC in the fourth quarter valued at approximately $94,036,000. Bank of America Corp DE grew its holdings in shares of Kayne Anderson BDC by 13.4% in the third quarter. Bank of America Corp DE now owns 5,211,124 shares of the company’s stock valued at $69,412,000 after purchasing an additional 614,393 shares in the last quarter. Pathstone Holdings LLC increased its stake in Kayne Anderson BDC by 612.8% during the 3rd quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock worth $19,261,000 after buying an additional 1,243,181 shares during the period. Finally, Sage Mountain Advisors LLC increased its stake in Kayne Anderson BDC by 13.8% during the 3rd quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company’s stock worth $14,099,000 after buying an additional 128,061 shares during the period.

Analysts Set New Price Targets

Several research firms have issued reports on KBDC. Wells Fargo & Company cut their target price on Kayne Anderson BDC from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Keefe, Bruyette & Woods decreased their price target on Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, UBS Group increased their price target on Kayne Anderson BDC from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kayne Anderson BDC has an average rating of “Moderate Buy” and a consensus price target of $15.13.

Kayne Anderson BDC Trading Up 3.3%

Shares of Kayne Anderson BDC stock traded up $0.48 on Thursday, reaching $14.92. The company had a trading volume of 200,213 shares, compared to its average volume of 264,815. The firm’s 50 day moving average price is $14.02 and its two-hundred day moving average price is $14.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.26 and a current ratio of 1.26. Kayne Anderson BDC has a 52-week low of $13.06 and a 52-week high of $16.40. The firm has a market cap of $991.20 million, a PE ratio of 11.22 and a beta of 0.04.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Kayne Anderson BDC had a net margin of 39.74% and a return on equity of 10.23%. The firm had revenue of $33.44 million during the quarter, compared to analysts’ expectations of $56.48 million. Sell-side analysts predict that Kayne Anderson BDC will post 1.6 earnings per share for the current fiscal year.

Kayne Anderson BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, March 31st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 10.7%. The ex-dividend date was Tuesday, March 31st. Kayne Anderson BDC’s payout ratio is currently 120.30%.

Kayne Anderson BDC Company Profile

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.