Short Interest in Crescent Capital BDC, Inc. (NASDAQ:CCAP) Rises By 50.6%

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 126,500 shares, an increase of 50.6% from the August 15th total of 84,000 shares. Based on an average daily volume of 147,500 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CCAP shares. Keefe, Bruyette & Woods increased their price target on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Bank of America lowered their target price on shares of 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. Finally, Wells Fargo & Company reduced their price target on 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Crescent Capital BDC Trading Up 1.2 %

NASDAQ CCAP traded up $0.22 on Friday, reaching $18.36. 106,053 shares of the company were exchanged, compared to its average volume of 137,579. 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 business’s fifty day moving average price is $18.47 and its 200 day moving average price is $18.00. The stock has a market capitalization of $680.46 million, a P/E ratio of 6.53 and a beta of 0.81. Crescent Capital BDC has a fifty-two week low of $15.03 and a fifty-two week high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $48.95 million for the quarter, compared to analysts’ expectations of $48.05 million. During the same quarter in the previous year, the company posted $0.56 EPS. Analysts forecast that Crescent Capital BDC will post 2.35 earnings per share for the current year.

Crescent Capital BDC Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CCAP. Cape Investment Advisory Inc. purchased a new stake in shares of Crescent Capital BDC in the 4th quarter valued at approximately $63,000. Point72 Asset Management L.P. acquired a new position in Crescent Capital BDC during the second quarter worth $90,000. Tucker Asset Management LLC purchased a new position in shares of Crescent Capital BDC during the fourth quarter worth $167,000. XTX Topco Ltd acquired a new stake in shares of Crescent Capital BDC in the second quarter valued at $195,000. Finally, Catalina Capital Group LLC purchased a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at $220,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

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.