Crescent Capital BDC (NASDAQ:CCAP) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Crescent Capital BDC (NASDAQ:CCAP) announced its quarterly earnings results on Wednesday. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01, Zacks reports. Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.

Crescent Capital BDC Stock Up 3.0%

Shares of NASDAQ:CCAP traded up $0.39 during midday trading on Wednesday, reaching $13.27. 216,494 shares of the company were exchanged, compared to its average volume of 190,976. Crescent Capital BDC has a fifty-two week low of $12.70 and a fifty-two week high of $18.57. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $14.29 and a two-hundred day simple moving average of $14.53. The firm has a market cap of $490.86 million, a PE ratio of 13.54 and a beta of 0.55.

Institutional Trading of Crescent Capital BDC

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of Crescent Capital BDC by 1,504.9% in the fourth quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after purchasing an additional 618,590 shares in the last quarter. NewEdge Advisors LLC raised its position in Crescent Capital BDC by 20.2% in the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock valued at $173,000 after buying an additional 2,066 shares during the last quarter. Almitas Capital LLC raised its position in Crescent Capital BDC by 18.0% in the 4th quarter. Almitas Capital LLC now owns 444,234 shares of the company’s stock valued at $6,241,000 after buying an additional 67,773 shares during the last quarter. Trexquant Investment LP boosted its position in Crescent Capital BDC by 145.0% during the 4th quarter. Trexquant Investment LP now owns 173,480 shares of the company’s stock worth $2,437,000 after acquiring an additional 102,662 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Crescent Capital BDC during the 4th quarter worth approximately $1,467,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CCAP. Keefe, Bruyette & Woods decreased their price objective on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a report on Friday, November 14th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Wells Fargo & Company lowered their price objective on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, November 14th. Oppenheimer reduced their target price 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. Finally, Wall Street Zen raised Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

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.