Short Interest in Crescent Capital BDC, Inc. (NASDAQ:CCAP) Declines By 30.8%

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 87,500 shares, a decrease of 30.8% from the August 31st total of 126,500 shares. Based on an average daily volume of 138,500 shares, the short-interest ratio is presently 0.6 days.

Crescent Capital BDC Price Performance

Shares of CCAP traded up $0.17 during midday trading on Friday, hitting $18.95. 46,357 shares of the company traded hands, compared to its average volume of 136,363. Crescent Capital BDC has a one year low of $15.03 and a one year high of $19.63. The firm has a market cap of $702.29 million, a P/E ratio of 6.68 and a beta of 0.81. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a 50-day moving average of $18.38 and a 200-day moving average of $18.13.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a net margin of 51.61% and a return on equity of 12.03%. The business had revenue of $48.95 million for the quarter, compared to analyst estimates of $48.05 million. During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, sell-side analysts predict that Crescent Capital BDC will post 2.34 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date is Monday, September 30th. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s dividend payout ratio (DPR) is 59.79%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCAP. Bank of America lowered their target price on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company lowered their price target on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Crescent Capital BDC has an average rating of “Moderate Buy” and an average target price of $18.80.

Hedge Funds Weigh In On Crescent Capital BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCAP. Confluence Investment Management LLC grew its stake in Crescent Capital BDC by 3.0% in the 2nd quarter. Confluence Investment Management LLC now owns 71,623 shares of the company’s stock worth $1,345,000 after buying an additional 2,108 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Crescent Capital BDC in the second quarter worth $90,000. Relative Value Partners Group LLC grew its position in Crescent Capital BDC by 2.1% in the fourth quarter. Relative Value Partners Group LLC now owns 383,121 shares of the company’s stock worth $6,659,000 after acquiring an additional 7,834 shares in the last quarter. Tucker Asset Management LLC bought a new position in Crescent Capital BDC in the fourth quarter valued at $167,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Crescent Capital BDC by 14.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,766 shares of the company’s stock valued at $1,517,000 after purchasing an additional 10,000 shares in the last quarter. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.