Short Interest in Kayne Anderson BDC, Inc. (NYSE:KBDC) Increases By 65.5%

Kayne Anderson BDC, Inc. (NYSE:KBDC - Get Free Report) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 23,000 shares, an increase of 65.5% from the November 30th total of 13,900 shares. Based on an average daily volume of 58,500 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Insider Activity

In other Kayne Anderson BDC news, Director Susan C. Schnabel purchased 2,500 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $16.54 per share, for a total transaction of $41,350.00. Following the completion of the acquisition, the director now directly owns 8,087 shares in the company, valued at $133,758.98. This represents a 44.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kayne Anderson BDC

Institutional investors and hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC lifted its holdings in shares of Kayne Anderson BDC by 15.3% during the 3rd quarter. Confluence Investment Management LLC now owns 103,788 shares of the company's stock worth $1,682,000 after acquiring an additional 13,788 shares during the period. Franklin Resources Inc. raised its position in Kayne Anderson BDC by 21.1% in the third quarter. Franklin Resources Inc. now owns 64,680 shares of the company's stock worth $1,033,000 after purchasing an additional 11,289 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Kayne Anderson BDC during the third quarter worth about $44,000.

Kayne Anderson BDC Price Performance

Shares of KBDC stock traded down $0.08 during mid-day trading on Friday, reaching $16.75. The stock had a trading volume of 67,747 shares, compared to its average volume of 54,876. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. Kayne Anderson BDC has a one year low of $15.69 and a one year high of $17.22. The company has a 50 day moving average of $16.54.

Kayne Anderson BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.40 dividend. This is a boost from Kayne Anderson BDC's previous quarterly dividend of $0.10. This represents a $1.60 annualized dividend and a yield of 9.55%. The ex-dividend date is Tuesday, December 31st.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their target price on shares of Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.30.

Kayne Anderson BDC Company Profile

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.

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