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

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

Kayne Anderson BDC Trading Up 0.3 %

Shares of NYSE KBDC opened at $16.60 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 1.36. The company has a 50 day moving average price of $16.23. Kayne Anderson BDC has a twelve month low of $15.69 and a twelve month high of $16.80.

Kayne Anderson BDC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.60 dividend on an annualized basis and a yield of 9.64%. This is a boost from Kayne Anderson BDC’s previous quarterly dividend of $0.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC increased its holdings in shares of Kayne Anderson BDC by 15.3% in the third quarter. Confluence Investment Management LLC now owns 103,788 shares of the company’s stock valued at $1,682,000 after purchasing an additional 13,788 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Kayne Anderson BDC by 21.1% during 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 during the period. Finally, BNP Paribas Financial Markets purchased a new position in Kayne Anderson BDC in the 3rd quarter valued at $44,000.

Wall Street Analyst Weigh In

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