Crescent Capital BDC, Inc. (NASDAQ:CCAP) Sees Significant Decrease in Short Interest

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 87,700 shares, a decrease of 12.4% from the December 15th total of 100,100 shares. Based on an average daily trading volume, of 105,200 shares, the short-interest ratio is presently 0.8 days.

Crescent Capital BDC Price Performance

Shares of CCAP traded down $0.02 during mid-day trading on Friday, hitting $19.34. 74,403 shares of the stock were exchanged, compared to its average volume of 94,750. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $716.74 million, a PE ratio of 7.58 and a beta of 0.81. Crescent Capital BDC has a 52-week low of $15.91 and a 52-week high of $20.03. The firm has a 50-day moving average of $19.29 and a two-hundred day moving average of $18.76.

Crescent Capital BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.68 annualized dividend and a yield of 8.69%. 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 65.88%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CCAP shares. LADENBURG THALM/SH SH assumed coverage on Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Crescent Capital BDC currently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Institutional Trading of Crescent Capital BDC

A number of large investors have recently made changes to their positions in CCAP. Point72 Asset Management L.P. bought a new stake in Crescent Capital BDC in the second quarter worth $90,000. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at $195,000. Cubist Systematic Strategies LLC bought a new stake in shares of Crescent Capital BDC in the 2nd quarter worth about $346,000. Pettinga Financial Advisors LLC boosted its stake in shares of Crescent Capital BDC by 95.8% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 29,017 shares of the company’s stock worth $537,000 after purchasing an additional 14,200 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new position in Crescent Capital BDC during the 4th quarter valued at about $659,000. 49.46% of the stock is currently owned by institutional investors.

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.