Short Interest in Crescent Capital BDC, Inc. (NASDAQ:CCAP) Decreases By 10.9%

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 151,400 shares, a decline of 10.9% from the September 30th total of 169,900 shares. Based on an average daily trading volume, of 110,400 shares, the short-interest ratio is currently 1.4 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCAP. Bank of America cut their price target on Crescent Capital BDC from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 15th. LADENBURG THALM/SH SH assumed coverage on shares of Crescent Capital BDC in a report on Monday, September 30th. They issued a "buy" rating and a $20.00 price target for the company. Finally, Wells Fargo & Company decreased 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 report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.00.

Institutional Investors Weigh In On Crescent Capital BDC

A number of large investors have recently bought and sold shares of CCAP. Confluence Investment Management LLC raised its position in Crescent Capital BDC by 3.0% in the 2nd quarter. Confluence Investment Management LLC now owns 71,623 shares of the company's stock valued at $1,345,000 after purchasing an additional 2,108 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Crescent Capital BDC during the 2nd quarter worth about $90,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Crescent Capital BDC by 14.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,766 shares of the company's stock worth $1,517,000 after acquiring an additional 10,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in Crescent Capital BDC in the 2nd quarter valued at about $195,000. Finally, Catalina Capital Group LLC bought a new position in shares of Crescent Capital BDC in the second quarter worth about $220,000. 49.46% of the stock is currently owned by institutional investors.

Crescent Capital BDC Price Performance

NASDAQ CCAP traded down $0.20 on Tuesday, reaching $18.30. The company's stock had a trading volume of 94,684 shares, compared to its average volume of 132,509. 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 firm has a market cap of $678.23 million, a PE ratio of 6.51 and a beta of 0.81. Crescent Capital BDC has a 52 week low of $15.44 and a 52 week high of $19.63. The business has a 50-day moving average price of $18.43 and a 200 day moving average price of $18.32.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a net margin of 51.61% and a return on equity of 12.03%. 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 earned $0.56 EPS. Sell-side analysts expect that Crescent Capital BDC will post 2.35 EPS for the current year.

Crescent Capital BDC Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.42 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.18%. This is a boost from Crescent Capital BDC's previous quarterly dividend of $0.09. Crescent Capital BDC's payout ratio is 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.

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