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

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

A number of other analysts have also commented on CCAP. Zacks Research lowered Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. LADENBURG THALM/SH SH lowered their price objective 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. Wells Fargo & Company dropped their price objective on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. Finally, B. Riley Financial restated a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.90.

Crescent Capital BDC Stock Performance

Crescent Capital BDC stock opened at $11.12 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.35. The stock has a market cap of $409.77 million, a PE ratio of 27.12 and a beta of 0.52. Crescent Capital BDC has a 12-month low of $10.77 and a 12-month high of $16.03. The business’s 50-day moving average price is $11.83 and its two-hundred day moving average price is $13.04.

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

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of 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 period. North Ground Capital increased its position in shares of 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 buying an additional 417,312 shares during the period. Focus Partners Wealth acquired a new stake in shares of Crescent Capital BDC during the fourth quarter worth $5,476,000. Closed End Fund Advisors Inc. bought a new position in Crescent Capital BDC during the fourth quarter worth $3,166,000. Finally, Alpine Global Management LLC bought a new position in Crescent Capital BDC during the third quarter worth $3,137,000. Institutional investors own 49.46% of the company’s stock.

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.