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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 75,600 shares, a decline 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 currently 0.7 days.

Hedge Funds Weigh In On Crescent Capital BDC

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in Crescent Capital BDC in the second quarter valued at approximately $90,000. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC in the second quarter worth about $195,000. Catalina Capital Group LLC acquired a new stake in shares of Crescent Capital BDC in the second quarter valued at about $220,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at about $346,000. Finally, Van ECK Associates Corp lifted its position in Crescent Capital BDC by 136.1% during the 2nd quarter. Van ECK Associates Corp now owns 26,521 shares of the company’s stock worth $498,000 after acquiring an additional 15,288 shares in the last quarter. 49.46% of the stock is owned by institutional investors and hedge funds.

Crescent Capital BDC Trading Up 0.4 %

Shares of CCAP traded up $0.07 during trading hours on Friday, hitting $19.98. The stock had a trading volume of 100,414 shares, 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 market cap of $740.50 million, a P/E ratio of 7.84 and a beta of 0.82. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.26. The company’s fifty day simple moving average is $18.79 and its 200 day simple moving average is $18.65.

Crescent Capital BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.41%. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, December 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is 65.88%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CCAP shares. LADENBURG THALM/SH SH started coverage on Crescent Capital BDC in a research note on Monday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods upped their price objective on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.17.

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.