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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 113,900 shares, a drop of 24.8% from the October 15th total of 151,400 shares. Based on an average trading volume of 108,600 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sun Life Financial Inc. raised its position in Crescent Capital BDC by 20.7% during the third quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock valued at $41,187,000 after acquiring an additional 382,542 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Crescent Capital BDC during the 3rd quarter valued at approximately $1,899,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Crescent Capital BDC during the 2nd quarter valued at approximately $1,021,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Crescent Capital BDC by 182.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 49,482 shares of the company’s stock valued at $929,000 after purchasing an additional 31,952 shares during the period. Finally, Millennium Management LLC boosted its holdings in Crescent Capital BDC by 31.9% during the second quarter. Millennium Management LLC now owns 268,097 shares of the company’s stock worth $5,035,000 after buying an additional 64,902 shares in the last quarter. Institutional investors and hedge funds own 49.46% of the company’s stock.

Crescent Capital BDC Stock Down 0.8 %

NASDAQ:CCAP traded down $0.15 during midday trading on Friday, reaching $18.98. 76,330 shares of the stock traded hands, compared to its average volume of 132,392. The stock has a market capitalization of $703.44 million, a PE ratio of 7.50 and a beta of 0.81. Crescent Capital BDC has a 12-month low of $15.91 and a 12-month high of $19.63. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.40 and a current ratio of 1.26. The business has a 50-day moving average of $18.42 and a two-hundred day moving average of $18.41.

Crescent Capital BDC (NASDAQ:CCAP) last released its earnings results on Monday, August 12th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a net margin of 47.06% and a return on equity of 12.20%. The company had revenue of $48.95 million during the quarter, compared to analysts’ expectations of $48.05 million. During the same period last year, the business earned $0.56 EPS. On average, equities analysts forecast that Crescent Capital BDC will post 2.37 earnings per share for the current fiscal year.

Crescent Capital BDC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.85%. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.07. Crescent Capital BDC’s dividend payout ratio (DPR) is presently 65.88%.

Wall Street Analyst Weigh In

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

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.