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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 132,700 shares, a decrease of 52.9% from the June 30th total of 281,800 shares. Based on an average daily volume of 198,500 shares, the short-interest ratio is presently 0.7 days.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Raymond James lifted their target price on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods upped their price objective 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, Wells Fargo & Company raised their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of CCAP. Cape Investment Advisory Inc. purchased a new position in Crescent Capital BDC during the fourth quarter valued at $63,000. Tucker Asset Management LLC purchased a new position in shares of Crescent Capital BDC during the fourth quarter valued at about $167,000. SG Americas Securities LLC purchased a new position in shares of Crescent Capital BDC during the fourth quarter valued at about $197,000. Alpine Global Management LLC bought a new stake in shares of Crescent Capital BDC in the first quarter worth about $217,000. Finally, Catalina Capital Group LLC purchased a new stake in shares of Crescent Capital BDC in the second quarter worth about $220,000. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Price Performance

Crescent Capital BDC stock traded up $0.10 during mid-day trading on Friday, hitting $18.73. The stock had a trading volume of 19,917 shares, compared to its average volume of 142,419. Crescent Capital BDC has a one year low of $15.03 and a one year high of $19.63. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $694.13 million, a P/E ratio of 6.67 and a beta of 0.81. The firm’s 50 day moving average is $18.71 and its 200 day moving average is $17.59.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Crescent Capital BDC had a return on equity of 11.99% and a net margin of 53.32%. The firm had revenue of $50.36 million during the quarter, compared to analyst estimates of $48.31 million. On average, sell-side analysts forecast that Crescent Capital BDC will post 2.34 earnings per share for the current fiscal year.

Crescent Capital BDC Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 8.97%. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, June 28th. Crescent Capital BDC’s dividend payout ratio is presently 59.79%.

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.