Crescent Capital BDC (NASDAQ:CCAP) Upgraded to Hold at Wall Street Zen

Crescent Capital BDC (NASDAQ:CCAP) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

CCAP has been the topic of several other reports. Wells Fargo & Company decreased their target price on shares of 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. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Keefe, Bruyette & Woods decreased their price objective on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a report on Friday, November 14th. Finally, Oppenheimer lowered their price objective on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Crescent Capital BDC has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock opened at $14.49 on Friday. The business’s 50 day moving average price is $14.31 and its 200 day moving average price is $14.57. The company has a market cap of $535.99 million, a price-to-earnings ratio of 14.79 and a beta of 0.54. 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 has a one year low of $13.03 and a one year high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last issued 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). Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.The company had revenue of $41.35 million during the quarter, compared to analyst estimates of $42.35 million. On average, research analysts predict that Crescent Capital BDC will post 2.09 EPS for the current year.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of the company. Ares Management LLC boosted its holdings in Crescent Capital BDC by 10.0% during the 2nd quarter. Ares Management LLC now owns 516,409 shares of the company’s stock valued at $7,281,000 after acquiring an additional 46,836 shares during the period. Franklin Resources Inc. lifted its position in shares of Crescent Capital BDC by 16.8% during the second quarter. Franklin Resources Inc. now owns 504,926 shares of the company’s stock worth $7,119,000 after purchasing an additional 72,455 shares in the last quarter. FJ Capital Management LLC purchased a new position in shares of Crescent Capital BDC in the second quarter valued at approximately $531,000. Catalyst Capital Advisors LLC purchased a new position in shares of Crescent Capital BDC in the second quarter valued at approximately $69,000. Finally, Pettinga Financial Advisors LLC acquired a new position in shares of Crescent Capital BDC in the third quarter valued at approximately $852,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

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.