Crescent Capital BDC (NASDAQ:CCAP) Lowered to Sell Rating by Wall Street Zen

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

A number of other brokerages also recently issued reports on CCAP. Oppenheimer downgraded Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. B. Riley Financial reaffirmed a “neutral” rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Finally, LADENBURG THALM/SH SH cut their target price on shares of 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. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.90.

Crescent Capital BDC Stock Performance

CCAP opened at $10.84 on Friday. The firm has a fifty day moving average price of $11.18 and a 200 day moving average price of $12.66. Crescent Capital BDC has a 1 year low of $10.64 and a 1 year high of $16.03. The stock has a market cap of $399.45 million, a P/E ratio of 26.44 and a beta of 0.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The company had revenue of ($6.83) million during the quarter, compared to analysts’ expectations of $39.58 million. Equities research analysts anticipate that Crescent Capital BDC will post 1.38 earnings per share for the current year.

Insider Activity at Crescent Capital BDC

In other news, President Henry Chung purchased 4,500 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the acquisition, the president directly owned 20,722 shares of the company’s stock, valued at approximately $237,266.90. This represents a 27.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason Breaux bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $11.19 per share, with a total value of $55,950.00. Following the purchase, the chief executive officer owned 52,636 shares of the company’s stock, 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.

Institutional Investors Weigh In On Crescent Capital BDC

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

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.