Kayne Anderson BDC, Inc. (NYSE:KBDC) Sees Large Decrease in Short Interest

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the target of a large drop in short interest in May. As of May 31st, there was short interest totalling 157,200 shares, a drop of 28.9% from the May 15th total of 221,100 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 159,600 shares, the days-to-cover ratio is currently 1.0 days.

Kayne Anderson BDC Stock Down 0.8%

Kayne Anderson BDC stock opened at $15.65 on Tuesday. Kayne Anderson BDC has a fifty-two week low of $13.93 and a fifty-two week high of $17.99. The firm has a market capitalization of $1.11 billion and a PE ratio of 8.69. The company’s 50-day moving average is $15.81 and its 200-day moving average is $16.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36.

Kayne Anderson BDC (NYSE:KBDC) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). Kayne Anderson BDC had a net margin of 59.80% and a return on equity of 12.65%. The business had revenue of $55.25 million for the quarter, compared to analyst estimates of $58.43 million. Sell-side analysts anticipate that Kayne Anderson BDC will post 2.06 earnings per share for the current year.

Kayne Anderson BDC Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Tuesday, June 10th will be paid a $0.10 dividend. This represents a yield of 12.1%. The ex-dividend date is Monday, June 9th. Kayne Anderson BDC’s dividend payout ratio (DPR) is 88.89%.

Insider Buying and Selling

In related news, Director Albert Rabil sold 314,465 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $15.90, for a total transaction of $4,999,993.50. Following the transaction, the director now owns 151,686 shares in the company, valued at $2,411,807.40. This represents a 67.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 387,485 shares of company stock worth $6,151,830 in the last quarter. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sage Mountain Advisors LLC bought a new position in shares of Kayne Anderson BDC during the fourth quarter valued at $3,359,000. Corient Private Wealth LLC purchased a new position in Kayne Anderson BDC in the fourth quarter worth $4,205,000. SlateStone Wealth LLC purchased a new stake in shares of Kayne Anderson BDC during the 4th quarter worth approximately $927,000. Virtu Financial LLC bought a new position in shares of Kayne Anderson BDC during the 4th quarter worth $197,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Kayne Anderson BDC during the 4th quarter valued at approximately $46,000.

Analysts Set New Price Targets

A number of brokerages recently commented on KBDC. Keefe, Bruyette & Woods decreased their price objective on Kayne Anderson BDC from $17.00 to $16.50 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price target on shares of Kayne Anderson BDC in a report on Monday, May 19th. UBS Group cut their price target on shares of Kayne Anderson BDC from $16.50 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company cut their price target on Kayne Anderson BDC from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.60.

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.