Short Interest in Kayne Anderson BDC, Inc. (NYSE:KBDC) Increases By 127.0%

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 52,200 shares, a growth of 127.0% from the December 15th total of 23,000 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 65,700 shares, the short-interest ratio is currently 0.8 days.

Analyst Ratings Changes

Separately, Royal Bank of Canada lifted their price objective on Kayne Anderson BDC from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.30.

Insider Activity at Kayne Anderson BDC

In other news, Director Susan C. Schnabel bought 2,500 shares of the stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $16.54 per share, with a total value of $41,350.00. Following the completion of the acquisition, the director now directly owns 8,087 shares in the company, valued at approximately $133,758.98. The trade was a 44.75 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Kayne Anderson BDC in the 3rd quarter worth approximately $44,000. Confluence Investment Management LLC boosted its position in Kayne Anderson BDC by 5.9% during the fourth quarter. Confluence Investment Management LLC now owns 109,957 shares of the company’s stock worth $1,819,000 after purchasing an additional 6,169 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Kayne Anderson BDC by 21.1% in the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock valued at $1,033,000 after purchasing an additional 11,289 shares during the last quarter.

Kayne Anderson BDC Stock Performance

Shares of NYSE:KBDC traded up $0.13 on Tuesday, reaching $16.65. 51,860 shares of the company were exchanged, compared to its average volume of 88,145. The company has a 50-day moving average of $16.65 and a 200-day moving average of $16.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.36 and a current ratio of 1.36. Kayne Anderson BDC has a 1-year low of $15.69 and a 1-year high of $17.22.

Kayne Anderson BDC Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.40 per share. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10. This represents a $1.60 annualized dividend and a yield of 9.61%. The ex-dividend date of this dividend is Tuesday, December 31st.

About Kayne Anderson BDC

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.