Short Interest in Crescent Capital BDC, Inc. (NASDAQ:CCAP) Grows By 85.4%

Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 215,200 shares, an increase of 85.4% from the May 31st total of 116,100 shares. Based on an average trading volume of 179,300 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Crescent Capital BDC

Several institutional investors have recently modified their holdings of CCAP. Cape Investment Advisory Inc. bought a new position in shares of Crescent Capital BDC during the 4th quarter valued at about $63,000. Tucker Asset Management LLC bought a new position in shares of Crescent Capital BDC during the 4th quarter valued at about $167,000. SG Americas Securities LLC bought a new position in shares of Crescent Capital BDC during the 4th quarter valued at about $197,000. Alpine Global Management LLC bought a new position in shares of Crescent Capital BDC during the 1st quarter valued at about $217,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Crescent Capital BDC in the 3rd quarter valued at approximately $240,000. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Trading Up 1.3 %

CCAP stock traded up $0.23 during midday trading on Friday, reaching $18.78. The stock had a trading volume of 259,435 shares, compared to its average volume of 208,974. The business has a fifty day simple moving average of $18.11 and a two-hundred day simple moving average of $17.35. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.11. The firm has a market cap of $695.99 million, a price-to-earnings ratio of 6.68 and a beta of 0.81. Crescent Capital BDC has a twelve month low of $14.43 and a twelve month high of $19.27.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 8th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $50.36 million during the quarter, compared to analyst estimates of $48.31 million. Crescent Capital BDC had a return on equity of 11.99% and a net margin of 53.32%. As a group, research analysts expect that Crescent Capital BDC will post 2.34 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 8.95%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.41. Crescent Capital BDC’s payout ratio is 58.36%.

Analyst Upgrades and Downgrades

CCAP has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Crescent Capital BDC from $16.50 to $18.00 and gave the company an “equal weight” rating in a report on Monday, May 13th. Keefe, Bruyette & Woods raised their target price on Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Raymond James raised their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, May 10th.

Crescent Capital BDC Company Profile

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.