Crescent Capital BDC, Inc. (NASDAQ:CCAP) Short Interest Down 10.9% in October

Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 151,400 shares, a drop of 10.9% from the September 30th total of 169,900 shares. Based on an average daily volume of 110,400 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CCAP. Wells Fargo & Company dropped their price target on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. 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. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Crescent Capital BDC in a research report on Monday, September 30th. They issued a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Hedge Funds Weigh In On Crescent Capital BDC

A number of large investors have recently bought and sold shares of CCAP. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Crescent Capital BDC in the first quarter worth $303,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Crescent Capital BDC by 46.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 70,766 shares of the company’s stock worth $1,221,000 after buying an additional 22,281 shares in the last quarter. Condor Capital Management boosted its stake in shares of Crescent Capital BDC by 9.9% during the 1st quarter. Condor Capital Management now owns 224,320 shares of the company’s stock worth $3,872,000 after buying an additional 20,236 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Crescent Capital BDC in the 1st quarter valued at about $217,000. Finally, Confluence Investment Management LLC increased its position in shares of Crescent Capital BDC by 3.0% in the second 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 during the last quarter. Institutional investors and hedge funds own 49.46% of the company’s stock.

Crescent Capital BDC Stock Down 1.1 %

Shares of CCAP stock traded down $0.20 during trading hours on Tuesday, hitting $18.30. 94,684 shares of the company were exchanged, compared to its average volume of 132,509. Crescent Capital BDC has a 52 week low of $15.44 and a 52 week high of $19.63. 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 has a 50 day moving average of $18.43 and a two-hundred day moving average of $18.32. The company has a market capitalization of $678.23 million, a PE ratio of 6.51 and a beta of 0.81.

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

Crescent Capital BDC Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.42 dividend. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, September 30th. This represents a $1.68 annualized dividend and a yield of 9.18%. Crescent Capital BDC’s payout ratio is presently 59.79%.

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.