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

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $16.3750.

Several equities research analysts recently weighed in on CCAP shares. Wells Fargo & Company cut 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 research note on Friday, November 14th. Keefe, Bruyette & Woods cut their price objective on 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. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Zacks Research cut Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Finally, Oppenheimer cut their price target on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, November 14th.

Institutional Investors Weigh In On Crescent Capital BDC

A number of large investors have recently modified their holdings of the company. Alpine Global Management LLC acquired a new stake in shares of Crescent Capital BDC in the 3rd quarter valued at $3,137,000. Two Sigma Investments LP increased its holdings in Crescent Capital BDC by 199.6% in the third quarter. Two Sigma Investments LP now owns 269,649 shares of the company’s stock valued at $3,845,000 after buying an additional 179,660 shares during the last quarter. Bulldog Investors LLP raised its stake in Crescent Capital BDC by 50.7% in the third quarter. Bulldog Investors LLP now owns 437,518 shares of the company’s stock valued at $6,239,000 after buying an additional 147,135 shares in the last quarter. North Ground Capital raised its stake in Crescent Capital BDC by 34.4% in the third quarter. North Ground Capital now owns 418,000 shares of the company’s stock valued at $5,961,000 after buying an additional 107,000 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Crescent Capital BDC during the 2nd quarter worth about $1,448,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock opened at $14.52 on Friday. The stock has a market capitalization of $537.14 million, a price-to-earnings ratio of 14.82 and a beta of 0.54. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50-day moving average of $14.42 and a 200 day moving average of $14.59. Crescent Capital BDC has a 12 month low of $13.03 and a 12 month high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $41.35 million for the quarter, compared to analyst estimates of $42.35 million. As a group, sell-side analysts forecast that Crescent Capital BDC will post 2.09 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.68 annualized dividend and a yield of 11.6%. Crescent Capital BDC’s dividend payout ratio (DPR) is 171.43%.

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.