Crescent Capital BDC, Inc. (NASDAQ:CCAP) Short Interest Update

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 126,500 shares, a growth of 50.6% from the August 15th total of 84,000 shares. Based on an average trading volume of 147,500 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CCAP. Bank of America lowered their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company reduced their price objective on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Confluence Investment Management LLC grew its position 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 valued at $1,345,000 after acquiring an additional 2,108 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth about $63,000. Point72 Asset Management L.P. acquired a new position in shares of Crescent Capital BDC during the second quarter worth about $90,000. Jump Financial LLC grew its position in shares of Crescent Capital BDC by 29.8% during the fourth quarter. Jump Financial LLC now owns 25,382 shares of the company’s stock worth $441,000 after buying an additional 5,823 shares in the last quarter. Finally, Relative Value Partners Group LLC grew its position in shares of Crescent Capital BDC by 2.1% during the fourth quarter. Relative Value Partners Group LLC now owns 383,121 shares of the company’s stock worth $6,659,000 after buying an additional 7,834 shares in the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Stock Performance

CCAP opened at $18.36 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.17. The company has a market cap of $680.46 million, a price-to-earnings ratio of 6.53 and a beta of 0.81. The company’s 50 day moving average is $18.47 and its 200 day moving average is $18.02. Crescent Capital BDC has a 12-month low of $15.03 and a 12-month high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data 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. The company had revenue of $48.95 million during the quarter, compared to analyst estimates of $48.05 million. Crescent Capital BDC had a net margin of 51.61% and a return on equity of 12.03%. During the same period in the prior year, the firm earned $0.56 earnings per share. On average, equities research analysts predict that Crescent Capital BDC will post 2.35 EPS for the current year.

Crescent Capital BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.42 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.68 dividend on an annualized basis and a yield of 9.15%. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 59.79%.

About Crescent Capital BDC

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.