Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Average Recommendation of “Moderate Buy” by Brokerages

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $16.3750.

A number of research analysts have recently weighed in on CCAP shares. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Keefe, Bruyette & Woods lowered their target price on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Oppenheimer decreased their price target on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Finally, Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, November 14th.

Crescent Capital BDC Trading Up 0.1%

NASDAQ:CCAP opened at $14.56 on Wednesday. The stock’s 50 day moving average price is $14.32 and its 200 day moving average price is $14.58. Crescent Capital BDC has a 52 week low of $13.03 and a 52 week high of $20.19. The company has a market capitalization of $538.57 million, a P/E ratio of 14.86 and a beta of 0.55. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.20 and a current ratio of 1.20.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, November 12th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $41.35 million during the quarter, compared to analyst estimates of $42.35 million. Crescent Capital BDC had a net margin of 20.84% and a return on equity of 9.76%. On average, research analysts forecast that Crescent Capital BDC will post 2.09 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 11.5%. The ex-dividend date is Wednesday, December 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is 171.43%.

Institutional Trading of Crescent Capital BDC

Institutional investors and hedge funds have recently modified their holdings of the company. Alpine Global Management LLC bought a new stake in shares of Crescent Capital BDC during the 3rd quarter worth $3,137,000. Two Sigma Investments LP lifted its position in Crescent Capital BDC by 199.6% during the 3rd quarter. Two Sigma Investments LP now owns 269,649 shares of the company’s stock worth $3,845,000 after acquiring an additional 179,660 shares during the last quarter. Bulldog Investors LLP lifted its position in Crescent Capital BDC by 50.7% during the 3rd quarter. Bulldog Investors LLP now owns 437,518 shares of the company’s stock worth $6,239,000 after acquiring an additional 147,135 shares during the last quarter. North Ground Capital boosted its holdings in Crescent Capital BDC by 34.4% during the third quarter. North Ground Capital now owns 418,000 shares of the company’s stock valued at $5,961,000 after acquiring an additional 107,000 shares during the period. Finally, Jane Street Group LLC bought a new stake in Crescent Capital BDC during the second quarter valued at about $1,448,000. 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.