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

Kayne Anderson BDC, Inc. (NYSE:KBDC) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 11,700 shares, a growth of 185.4% from the October 31st total of 4,100 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 34,400 shares, the days-to-cover ratio is presently 0.3 days.

Kayne Anderson BDC Stock Performance

Shares of NYSE KBDC opened at $16.75 on Friday. Kayne Anderson BDC has a one year low of $15.69 and a one year high of $16.80. The company has a fifty day moving average price of $16.25. 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 Increases Dividend

The business 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 9.55%. The ex-dividend date is Tuesday, December 31st. This is an increase from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped their target price on 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.30.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Confluence Investment Management LLC increased its holdings in shares of Kayne Anderson BDC by 15.3% during the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock worth $1,682,000 after buying an additional 13,788 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Kayne Anderson BDC during the 3rd quarter worth approximately $44,000. Finally, Franklin Resources Inc. increased its holdings in Kayne Anderson BDC by 21.1% during the 3rd 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 in the last quarter.

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.