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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 75,600 shares, a decrease of 33.0% from the November 15th total of 112,800 shares. Based on an average trading volume of 105,700 shares, the short-interest ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Several research firms have commented on CCAP. Keefe, Bruyette & Woods raised their price objective on Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. 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 objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.17.

Crescent Capital BDC Stock Up 0.4 %

Shares of NASDAQ CCAP traded up $0.07 during trading hours on Friday, hitting $19.98. 100,414 shares of the stock were exchanged, compared to its average volume of 129,315. Crescent Capital BDC has a 12 month low of $15.91 and a 12 month high of $20.03. The firm has a fifty day moving average price of $18.79 and a 200-day moving average price of $18.65. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The company has a market cap of $740.50 million, a PE ratio of 7.84 and a beta of 0.82.

Crescent Capital BDC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given 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 dividend on an annualized basis and a dividend yield of 8.41%. Crescent Capital BDC’s dividend payout ratio is presently 65.88%.

Institutional Trading of Crescent Capital BDC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its stake in Crescent Capital BDC by 174.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,264 shares of the company’s stock worth $874,000 after purchasing an additional 30,018 shares in the last quarter. Sun Life Financial Inc. lifted its stake in shares of Crescent Capital BDC by 20.7% during the third 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 period. International Assets Investment Management LLC purchased a new stake in shares of Crescent Capital BDC during the third quarter valued at $1,899,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Crescent Capital BDC in the 2nd quarter valued at $1,021,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Crescent Capital BDC by 182.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 49,482 shares of the company’s stock worth $929,000 after acquiring an additional 31,952 shares during the last quarter. 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.