Crescent Capital BDC, Inc. (NASDAQ:CCAP) Sees Large Drop in Short Interest

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 113,900 shares, a decline of 24.8% from the October 15th total of 151,400 shares. Based on an average daily volume of 108,600 shares, the days-to-cover ratio is presently 1.0 days.

Crescent Capital BDC Stock Down 0.8 %

Shares of Crescent Capital BDC stock traded down $0.15 on Friday, reaching $18.98. 76,330 shares of the company were exchanged, compared to its average volume of 132,392. Crescent Capital BDC has a one year low of $15.91 and a one year high of $19.63. The company has a 50-day moving average of $18.44 and a 200 day moving average of $18.42. The company has a current ratio of 1.26, a quick ratio of 1.40 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $703.44 million, a price-to-earnings ratio of 7.44 and a beta of 0.81.

Crescent Capital BDC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date is Tuesday, December 31st. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07. Crescent Capital BDC’s dividend payout ratio is 65.88%.

Institutional Investors Weigh In On Crescent Capital BDC

Large investors have recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC bought a new position in Crescent Capital BDC during the 3rd quarter worth $4,878,000. Stifel Financial Corp increased its position in Crescent Capital BDC by 53.1% during the 3rd quarter. Stifel Financial Corp now owns 66,470 shares of the company’s stock worth $1,230,000 after buying an additional 23,055 shares during the period. HighTower Advisors LLC increased its position in Crescent Capital BDC by 0.5% during the 3rd quarter. HighTower Advisors LLC now owns 141,838 shares of the company’s stock worth $2,624,000 after buying an additional 768 shares during the period. Confluence Investment Management LLC increased its position in Crescent Capital BDC by 2.2% during the 3rd quarter. Confluence Investment Management LLC now owns 73,206 shares of the company’s stock worth $1,354,000 after buying an additional 1,583 shares during the period. Finally, Van ECK Associates Corp increased its position in Crescent Capital BDC by 68.0% during the 3rd quarter. Van ECK Associates Corp now owns 44,556 shares of the company’s stock worth $819,000 after buying an additional 18,035 shares during the period. Institutional investors own 49.46% of the company’s stock.

Analyst Ratings Changes

CCAP has been the subject of a number of recent research reports. LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a research report on Monday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Bank of America reduced their price target on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Wells Fargo & Company reduced their price target on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

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.