Crescent Capital BDC, Inc. (NASDAQ:CCAP) Short Interest Update

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 699,889 shares, a growth of 66.6% from the May 14th total of 419,998 shares. Based on an average daily volume of 243,376 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.9% of the shares of the company are short sold.

Crescent Capital BDC Price Performance

Shares of CCAP stock traded up $0.23 during mid-day trading on Tuesday, hitting $11.35. 235,415 shares of the stock were exchanged, compared to its average volume of 213,403. Crescent Capital BDC has a 52-week low of $10.92 and a 52-week high of $16.03. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.35. The company has a market cap of $418.17 million, a PE ratio of 27.68 and a beta of 0.52. The firm has a fifty day moving average of $12.33 and a 200 day moving average of $13.37.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The company had revenue of ($6.84) million during the quarter, compared to analysts’ expectations of $39.58 million. Research analysts anticipate that Crescent Capital BDC will post 1.38 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, November 30th. This represents a dividend yield of 107.0%. Crescent Capital BDC’s dividend payout ratio (DPR) is 409.76%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Monday, May 18th. LADENBURG THALM/SH SH dropped their target price on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 15th. B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Crescent Capital BDC has an average rating of “Hold” and a consensus price target of $13.90.

Insiders Place Their Bets

In other Crescent Capital BDC news, President Henry Chung acquired 4,500 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the purchase, the president owned 20,722 shares in the company, valued at approximately $237,266.90. The trade was a 27.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason Breaux acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the acquisition, the chief executive officer directly owned 52,636 shares in the company, valued at approximately $588,996.84. The trade was a 10.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Crescent Capital BDC

A number of large investors have recently added to or reduced their stakes in CCAP. Bank of America Corp DE lifted its holdings in Crescent Capital BDC by 4.6% during the first quarter. Bank of America Corp DE now owns 59,551 shares of the company’s stock valued at $724,000 after purchasing an additional 2,628 shares in the last quarter. Aspen Grove Capital LLC increased its stake in shares of Crescent Capital BDC by 0.9% during the first quarter. Aspen Grove Capital LLC now owns 269,852 shares of the company’s stock worth $3,279,000 after purchasing an additional 2,434 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Crescent Capital BDC by 206.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 15,000 shares of the company’s stock worth $182,000 after purchasing an additional 10,100 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in shares of Crescent Capital BDC during the 1st quarter worth about $127,000. Finally, Fifth Third Bancorp purchased a new position in Crescent Capital BDC in the 1st quarter valued at about $199,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a closed-end, externally managed business development company that provides flexible financing solutions to middle market companies in the United States. Trading on the Nasdaq under the ticker CCAP, the firm offers investors exposure to a diversified portfolio of debt and equity instruments, targeting businesses with attractive risk-adjusted return profiles. Its primary objective is to generate current income through interest payments and potential capital appreciation via selective equity co-investments.

The company’s investment strategy emphasizes senior secured loans, unsecured second-lien loans, mezzanine debt, as well as preferred and common equity co-investments.