Crescent Capital BDC (NASDAQ:CCAP) Issues Earnings Results, Misses Expectations By $0.01 EPS

Crescent Capital BDC (NASDAQ:CCAP) posted its quarterly earnings results on Wednesday. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01), Zacks reports. Crescent Capital BDC had a net margin of 24.12% and a return on equity of 10.55%. The company had revenue of $41.35 million during the quarter, compared to the consensus estimate of $42.35 million.

Crescent Capital BDC Price Performance

Shares of Crescent Capital BDC stock traded down $0.62 during trading on Thursday, hitting $13.61. The company’s stock had a trading volume of 88,049 shares, compared to its average volume of 192,392. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a 50-day moving average price of $14.60 and a two-hundred day moving average price of $14.87. Crescent Capital BDC has a 52 week low of $13.31 and a 52 week high of $20.19.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.68 annualized dividend and a dividend yield of 12.3%. Crescent Capital BDC’s dividend payout ratio is currently 140.00%.

Analyst Ratings Changes

A number of analysts have issued reports on CCAP shares. Keefe, Bruyette & Woods raised Crescent Capital BDC from a “hold” rating to a “moderate buy” rating in a report on Tuesday, July 22nd. LADENBURG THALM/SH SH raised shares of Crescent Capital BDC to a “strong-buy” rating in a report on Friday, August 15th. Finally, Zacks Research cut Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.33.

Insider Activity

In related news, Director Raymond Barrios purchased 3,245 shares of the business’s stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $15.63 per share, for a total transaction of $50,719.35. Following the purchase, the director owned 19,177 shares of the company’s stock, valued at approximately $299,736.51. This trade represents a 20.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors grew its position in shares of Crescent Capital BDC by 40.9% during the 2nd quarter. Captrust Financial Advisors now owns 52,686 shares of the company’s stock valued at $743,000 after acquiring an additional 15,295 shares during the period. Oxford Asset Management LLP bought a new position in Crescent Capital BDC during the second quarter valued at $565,000. Ameriprise Financial Inc. increased its position in Crescent Capital BDC by 10.6% in the second quarter. Ameriprise Financial Inc. now owns 89,027 shares of the company’s stock worth $1,255,000 after buying an additional 8,518 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Crescent Capital BDC during the 2nd quarter valued at $1,448,000. Finally, Raymond James Financial Inc. grew its stake in shares of Crescent Capital BDC by 12.6% during the 2nd quarter. Raymond James Financial Inc. now owns 236,817 shares of the company’s stock worth $3,339,000 after acquiring an additional 26,532 shares during the period. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.