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

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw a significant 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. Based on an average daily volume of 444,009 shares, the short-interest ratio is presently 0.7 days. Approximately 0.5% of the company’s shares are sold short.

Hedge Funds Weigh In On Kayne Anderson BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Koch Inc. purchased a new position in Kayne Anderson BDC in the second quarter worth approximately $185,887,000. Bank of America Corp DE increased its holdings in Kayne Anderson BDC by 180.1% in the second quarter. Bank of America Corp DE now owns 4,596,731 shares of the company’s stock valued at $70,146,000 after buying an additional 2,955,661 shares during the last quarter. Pathstone Holdings LLC raised its stake in Kayne Anderson BDC by 612.8% in the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock valued at $19,261,000 after buying an additional 1,243,181 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Kayne Anderson BDC in the fourth quarter valued at $11,804,000. Finally, UBS Group AG lifted its holdings in Kayne Anderson BDC by 265.0% during the 4th quarter. UBS Group AG now owns 576,812 shares of the company’s stock worth $8,260,000 after buying an additional 418,789 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KBDC. Zacks Research cut Kayne Anderson BDC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada decreased their target price on 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. Wells Fargo & Company restated an “equal weight” rating and set a $14.00 target price (down from $15.00) on shares of Kayne Anderson BDC in a report on Friday, June 12th. Finally, UBS Group dropped their target price on Kayne Anderson BDC from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday. 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 currently has a consensus rating of “Hold” and an average price target of $14.50.

Kayne Anderson BDC Stock Down 0.7%

Kayne Anderson BDC stock traded down $0.10 during mid-day trading on Tuesday, reaching $13.51. 218,590 shares of the company’s stock were exchanged, compared to its average volume of 335,353. The company has a market cap of $892.20 million, a P/E ratio of 12.39 and a beta of 0.31. Kayne Anderson BDC has a twelve month low of $13.06 and a twelve month high of $15.87. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average of $13.62 and a 200-day moving average of $14.01.

Kayne Anderson BDC (NYSE:KBDC) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.42 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $51.86 million. Sell-side analysts expect that Kayne Anderson BDC will post 1.61 EPS for the current year.

Kayne Anderson BDC Announces Dividend

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

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.