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

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.30.

A number of equities research analysts have issued reports on CCAP shares. LADENBURG THALM/SH SH cut their price target on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Finally, Oppenheimer downgraded 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 research note on Friday, May 15th.

Insider Buying and Selling at Crescent Capital BDC

In related news, CEO Jason Breaux bought 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $11.19 per share, with a total value of $55,950.00. Following the completion of the acquisition, the chief executive officer owned 52,636 shares of the company’s stock, valued at $588,996.84. This represents a 10.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Henry Chung acquired 4,500 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $11.45 per share, with a total value of $51,525.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CCAP. Northwestern Mutual Wealth Management Co. purchased a new position in Crescent Capital BDC during the 4th quarter valued at approximately $27,000. Rockefeller Capital Management L.P. purchased a new position in Crescent Capital BDC during the 4th quarter valued at approximately $35,000. VPR Management LLC grew its holdings in Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after buying an additional 3,000 shares in the last quarter. Westbourne Investments Inc. purchased a new position in Crescent Capital BDC during the 3rd quarter valued at approximately $141,000. Finally, Permanens Capital L.P. purchased a new position in Crescent Capital BDC during the 3rd quarter valued at approximately $147,000. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Stock Performance

CCAP opened at $11.41 on Friday. Crescent Capital BDC has a 1-year low of $10.92 and a 1-year high of $16.03. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market cap of $420.46 million, a P/E ratio of 27.83 and a beta of 0.59. The company has a 50 day simple moving average of $12.61 and a two-hundred day simple moving average of $13.56.

Crescent Capital BDC (NASDAQ:CCAP) last issued 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. 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 during the quarter, compared to analyst estimates of $39.58 million. Equities analysts forecast that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

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

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.