Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have received an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $13.90.

CCAP has been the subject of a number of research reports. Zacks Research lowered shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. LADENBURG THALM/SH SH reduced their price objective on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Keefe, Bruyette & Woods lowered their target price on Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 16th. Wall Street Zen raised Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Wells Fargo & Company cut their price target on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th.

Insider Buying and Selling

In other Crescent Capital BDC news, President Henry Chung purchased 4,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were bought at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the purchase, the president directly owned 20,722 shares in the company, valued at $237,266.90. This trade represents a 27.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason Breaux purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the purchase, the chief executive officer owned 52,636 shares in the company, valued at $588,996.84. The trade was a 10.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Crescent Capital BDC

Several hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock worth $9,269,000 after purchasing an additional 618,590 shares during the last quarter. North Ground Capital boosted its position in Crescent Capital BDC by 99.8% during the fourth quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after purchasing an additional 417,312 shares during the period. Focus Partners Wealth acquired a new position in Crescent Capital BDC during the fourth quarter valued at approximately $5,476,000. Closed End Fund Advisors Inc. acquired a new position in Crescent Capital BDC during the fourth quarter valued at approximately $3,166,000. Finally, Alpine Global Management LLC raised its position in shares of Crescent Capital BDC by 82.6% in the fourth quarter. Alpine Global Management LLC now owns 401,756 shares of the company’s stock valued at $5,645,000 after purchasing an additional 181,756 shares during the period. 49.46% of the stock is owned by institutional investors and hedge funds.

Crescent Capital BDC Stock Down 1.3%

NASDAQ:CCAP opened at $11.05 on Friday. The firm has a market capitalization of $407.15 million, a price-to-earnings ratio of 26.95 and a beta of 0.52. Crescent Capital BDC has a 1-year low of $10.77 and a 1-year high of $16.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average price is $11.34 and its 200 day moving average price is $12.78.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of ($6.83) million during the quarter, compared to analyst estimates of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. On average, sell-side analysts forecast that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.03 dividend. The ex-dividend date is Monday, November 30th. This represents a yield of 107.0%. Crescent Capital BDC’s dividend payout ratio is currently 331.71%.

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.