Crescent Capital BDC, Inc. (NASDAQ:CCAP) Short Interest Up 94.2% in September

Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 169,900 shares, an increase of 94.2% from the September 15th total of 87,500 shares. Based on an average daily trading volume, of 117,200 shares, the short-interest ratio is currently 1.4 days.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in Crescent Capital BDC during the second quarter valued at $90,000. Tucker Asset Management LLC purchased a new position in Crescent Capital BDC during the fourth quarter valued at $167,000. XTX Topco Ltd purchased a new position in Crescent Capital BDC during the second quarter valued at $195,000. Catalina Capital Group LLC purchased a new position in Crescent Capital BDC during the second quarter valued at $220,000. Finally, Alpine Global Management LLC purchased a new position in Crescent Capital BDC during the first quarter valued at $217,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Capital BDC Stock Performance

Shares of CCAP traded up $0.02 during trading hours on Friday, hitting $18.35. The stock had a trading volume of 97,093 shares, compared to its average volume of 134,849. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.40 and a quick ratio of 1.40. Crescent Capital BDC has a 12 month low of $15.03 and a 12 month high of $19.63. The firm has a market capitalization of $680.05 million, a PE ratio of 6.67 and a beta of 0.81. The stock has a fifty day moving average price of $18.29 and a 200 day moving average price of $18.21.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 12.03% and a net margin of 51.61%. The company had revenue of $48.95 million during the quarter, compared to analyst estimates of $48.05 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. Analysts anticipate that Crescent Capital BDC will post 2.35 EPS for the current year.

Crescent Capital BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.68 annualized dividend and a dividend yield of 9.16%. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s payout ratio is presently 61.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America reduced their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. LADENBURG THALM/SH SH began coverage on Crescent Capital BDC in a report on Monday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company reduced their target price 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 research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.00.

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.