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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 113,900 shares, a decline 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 Stock Up 1.9 %

Shares of NASDAQ:CCAP traded up $0.35 during mid-day trading on Thursday, hitting $19.13. 119,302 shares of the company traded hands, compared to its average volume of 132,499. The firm’s 50 day simple moving average is $18.40 and its 200 day simple moving average is $18.41. The firm has a market cap of $708.96 million, a P/E ratio of 7.36 and a beta of 0.81. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.40 and a current ratio of 1.40. Crescent Capital BDC has a 52-week low of $15.91 and a 52-week high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $48.95 million for the quarter, compared to analyst estimates of $48.05 million. Crescent Capital BDC had a net margin of 47.06% and a return on equity of 12.20%. During the same quarter last year, the firm posted $0.56 earnings per share. On average, equities analysts anticipate that Crescent Capital BDC will post 2.35 EPS for the current year.

Crescent Capital BDC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. This represents a $1.68 annualized dividend and a dividend yield of 8.78%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 65.88%.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds and other institutional investors have recently modified their holdings of CCAP. Confluence Investment Management LLC boosted its stake in Crescent Capital BDC by 2.2% in the third quarter. Confluence Investment Management LLC now owns 73,206 shares of the company’s stock valued at $1,354,000 after acquiring an additional 1,583 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Crescent Capital BDC by 68.0% in the 3rd quarter. Van ECK Associates Corp now owns 44,556 shares of the company’s stock worth $819,000 after purchasing an additional 18,035 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Crescent Capital BDC by 174.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,264 shares of the company’s stock valued at $874,000 after purchasing an additional 30,018 shares during the period. Sun Life Financial Inc. grew its stake in Crescent Capital BDC by 20.7% during the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock worth $41,187,000 after buying an additional 382,542 shares during the last quarter. Finally, Pettinga Financial Advisors LLC increased its position in Crescent Capital BDC by 95.8% in the third quarter. Pettinga Financial Advisors LLC now owns 29,017 shares of the company’s stock worth $537,000 after buying an additional 14,200 shares during the period. Institutional investors own 49.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CCAP. Wells Fargo & Company cut their price target on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. LADENBURG THALM/SH SH started coverage on Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Finally, Bank of America cut their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.