Crescent Capital BDC, Inc. (NASDAQ:CCAP) Short Interest Up 50.6% in August

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 126,500 shares, a growth of 50.6% from the August 15th total of 84,000 shares. Based on an average trading volume of 147,500 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

CCAP has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. Keefe, Bruyette & Woods upped their target price on Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, Bank of America decreased their price target on 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Crescent Capital BDC Price Performance

Shares of NASDAQ:CCAP opened at $18.36 on Monday. Crescent Capital BDC has a twelve month low of $15.03 and a twelve month high of $19.63. The company’s 50 day moving average is $18.47 and its 200 day moving average is $18.02. 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 company has a market cap of $680.46 million, a PE ratio of 6.53 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Monday, August 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 12.03% and a net margin of 51.61%. The business had revenue of $48.95 million for the quarter, compared to analyst estimates of $48.05 million. During the same quarter in the prior year, the firm posted $0.56 EPS. On average, sell-side analysts forecast that Crescent Capital BDC will post 2.35 EPS for the current year.

Crescent Capital BDC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 9.15%. The ex-dividend date is Monday, September 30th. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s dividend payout ratio is currently 59.79%.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds have recently bought and sold shares of the stock. Cape Investment Advisory Inc. purchased a new position in shares of Crescent Capital BDC during the 4th quarter valued at approximately $63,000. Point72 Asset Management L.P. purchased a new position in shares of Crescent Capital BDC during the 2nd quarter valued at approximately $90,000. Tucker Asset Management LLC acquired a new position in Crescent Capital BDC in the 4th quarter valued at $167,000. XTX Topco Ltd acquired a new position in Crescent Capital BDC in the 2nd quarter valued at $195,000. Finally, Alpine Global Management LLC acquired a new position in Crescent Capital BDC in the 1st quarter valued at $217,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

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.