Short Interest in Crescent Capital BDC, Inc. (NASDAQ:CCAP) Declines By 24.8%

by · The Markets Daily

Crescent Capital BDC, Inc. (NASDAQ:CCAP – Get Free Report) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 113,900 shares, a decrease of 24.8% from the October 15th total of 151,400 shares. Based on an average daily volume of 108,600 shares, the days-to-cover ratio is currently 1.0 days.

Crescent Capital BDC Price Performance

Shares of Crescent Capital BDC stock traded down $0.15 during trading hours on Friday, reaching $18.98. 76,330 shares of the company’s stock were exchanged, compared to its average volume of 132,392. The business has a fifty day moving average of $18.42 and a two-hundred day moving average of $18.41. The company has a market capitalization of $703.44 million, a P/E ratio of 7.50 and a beta of 0.81. The company has a quick ratio of 1.40, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. Crescent Capital BDC has a 1 year low of $15.91 and a 1 year high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $0.56 EPS. As a group, research analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 8.85%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 65.88%.

Hedge Funds Weigh In On Crescent Capital BDC

A number of institutional investors have recently added to or reduced their stakes in CCAP. Sun Life Financial Inc. grew its holdings in Crescent Capital BDC by 20.7% in the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock valued at $41,187,000 after buying an additional 382,542 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Crescent Capital BDC by 31.9% in the second quarter. Millennium Management LLC now owns 268,097 shares of the company’s stock valued at $5,035,000 after purchasing an additional 64,902 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of Crescent Capital BDC in the third quarter valued at about $4,878,000. Condor Capital Management increased its position in Crescent Capital BDC by 12.4% during the second quarter. Condor Capital Management now owns 252,121 shares of the company’s stock worth $4,735,000 after purchasing an additional 27,801 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Crescent Capital BDC by 0.5% during the third quarter. HighTower Advisors LLC now owns 141,838 shares of the company’s stock worth $2,624,000 after purchasing an additional 768 shares during the period. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Analysts Set New Price Targets

CCAP has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH assumed coverage on shares of Crescent Capital BDC in a research note on Monday, September 30th. They issued a “buy” rating and a $20.00 price target on the stock. Bank of America decreased their price objective on shares of Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Wells Fargo & Company cut their target price 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crescent Capital BDC presently has an average rating of “Moderate Buy” and an average target price of $19.00.

View Our Latest Analysis on CCAP

About Crescent Capital BDC

(Get Free Report)

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.

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