Crescent Capital BDC, Inc. (NASDAQ:CCAP) Sees Large Drop in Short Interest

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a significant drop in short interest in 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 daily trading volume, of 108,600 shares, the days-to-cover ratio is presently 1.0 days.

Crescent Capital BDC Trading Down 0.8 %

CCAP stock traded down $0.15 during mid-day trading on Friday, reaching $18.98. The company’s stock had a trading volume of 76,330 shares, compared to its average volume of 132,392. The company has a market cap of $703.44 million, a price-to-earnings ratio of 7.44 and a beta of 0.81. The business’s 50 day moving average price is $18.44 and its 200 day moving average price is $18.42. The company has a current ratio of 1.26, a quick ratio of 1.40 and a debt-to-equity ratio of 1.14. Crescent Capital BDC has a 12 month low of $15.91 and a 12 month high of $19.63.

Crescent Capital BDC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.42 dividend. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. This represents a $1.68 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date is Tuesday, December 31st. Crescent Capital BDC’s payout ratio is presently 65.88%.

Analyst Ratings Changes

Several 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 on the stock in a research note on Thursday, August 15th. LADENBURG THALM/SH SH began coverage on Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Crescent Capital BDC presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Institutional Investors Weigh In On Crescent Capital BDC

A number of hedge funds have recently added to or reduced their stakes in CCAP. Alpine Global Management LLC bought a new stake in Crescent Capital BDC in the first quarter worth approximately $217,000. Confluence Investment Management LLC grew its stake in 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 period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Crescent Capital BDC by 14.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,766 shares of the company’s stock valued at $1,517,000 after acquiring an additional 10,000 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in Crescent Capital BDC by 182.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 49,482 shares of the company’s stock valued at $929,000 after acquiring an additional 31,952 shares during the period. Finally, Catalina Capital Group LLC acquired a new stake in Crescent Capital BDC in the second quarter valued at approximately $220,000. 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.