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

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

Insiders Place Their Bets

In other Kayne Anderson BDC news, Director George E. Marucci, Jr. purchased 9,000 shares of Kayne Anderson BDC stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $13.74 per share, for a total transaction of $123,660.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $137,400. This trade represents a 900.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Kayne Anderson BDC

A number of large investors have recently made changes to their positions in the stock. Koch Inc. purchased a new stake in shares of Kayne Anderson BDC during the second quarter valued at $185,887,000. State of Michigan Retirement System purchased a new stake in shares of Kayne Anderson BDC during the fourth quarter valued at $94,036,000. Bank of America Corp DE boosted its stake in shares of Kayne Anderson BDC by 13.4% during 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 during the period. Pathstone Holdings LLC boosted its stake in shares of Kayne Anderson BDC by 612.8% during the third quarter. Pathstone Holdings LLC now owns 1,446,054 shares of the company’s stock valued at $19,261,000 after purchasing an additional 1,243,181 shares during the period. Finally, Sage Mountain Advisors LLC boosted its stake in shares of Kayne Anderson BDC by 13.8% during the third quarter. Sage Mountain Advisors LLC now owns 1,058,487 shares of the company’s stock valued at $14,099,000 after purchasing an additional 128,061 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KBDC. UBS Group boosted their price objective on shares of Kayne Anderson BDC from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods cut their price objective on shares of Kayne Anderson BDC from $16.00 to $15.50 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company cut their price objective on shares of Kayne Anderson BDC from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.13.

Kayne Anderson BDC Trading Up 1.1%

KBDC stock traded up $0.17 during mid-day trading on Friday, reaching $15.07. 241,720 shares of the stock traded hands, compared to its average volume of 255,278. 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 one year low of $13.06 and a one year high of $16.40. The stock has a market capitalization of $1.00 billion, a PE ratio of 11.33 and a beta of 0.28. The business has a 50-day moving average price of $14.02 and a two-hundred day moving average price of $14.38.

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, beating 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 business had revenue of $33.44 million for the quarter, compared to analysts’ expectations of $56.48 million. Equities research analysts expect that Kayne Anderson BDC will post 1.6 EPS for the current year.

Kayne Anderson BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend was Tuesday, March 31st. Kayne Anderson BDC’s payout ratio is currently 120.30%.

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.