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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 699,889 shares, an increase of 66.6% from the May 14th total of 419,998 shares. Based on an average daily trading volume, of 243,376 shares, the short-interest ratio is currently 2.9 days. Currently, 1.9% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CCAP shares. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $19.00 to $16.00 in a report on Friday, May 15th. Wells Fargo & Company decreased their target price on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. LADENBURG THALM/SH SH decreased their target price on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Zacks Research lowered Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.30.

Crescent Capital BDC Stock Down 0.4%

Shares of NASDAQ CCAP traded down $0.05 during midday trading on Monday, hitting $11.21. 191,727 shares of the company’s stock were exchanged, compared to its average volume of 211,676. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53. Crescent Capital BDC has a twelve month low of $10.92 and a twelve month high of $16.03. The company has a market cap of $413.09 million, a PE ratio of 27.37 and a beta of 0.52. The firm’s fifty day simple moving average is $12.35 and its 200-day simple moving average is $13.39.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of ($6.84) million for the quarter, compared to analyst estimates of $39.58 million. Research analysts predict that Crescent Capital BDC will post 1.38 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a yield of 107.0%. Crescent Capital BDC’s payout ratio is 409.76%.

Insider Buying and Selling at Crescent Capital BDC

In other Crescent Capital BDC news, President Henry Chung purchased 4,500 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the purchase, the president directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason Breaux purchased 5,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $11.19 per share, with a total value of $55,950.00. Following the purchase, the chief executive officer owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. This represents a 10.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.23% of the company’s stock.

Institutional Trading of Crescent Capital BDC

Several institutional investors and hedge funds have recently made changes to their positions in CCAP. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Crescent Capital BDC in the 4th quarter valued at about $27,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Crescent Capital BDC in the 4th quarter valued at about $35,000. VPR Management LLC lifted its holdings in shares of Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the last quarter. Beaumont Financial Advisors LLC purchased a new stake in shares of Crescent Capital BDC in the 1st quarter valued at about $127,000. Finally, Permanens Capital L.P. purchased a new stake in shares of Crescent Capital BDC in the 3rd quarter valued at about $147,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

About Crescent Capital BDC

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.