Crescent Capital BDC (NASDAQ:CCAP) Research Coverage Started at B. Riley Financial

B. Riley Financial initiated coverage on shares of Crescent Capital BDC (NASDAQ:CCAP) in a research report sent to investors on Monday, MarketBeat reports. The firm issued a neutral rating and a $13.50 price target on the stock.

A number of other equities analysts have also recently commented on the company. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Wall Street Zen raised Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Wells Fargo & Company decreased their price objective on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Crescent Capital BDC presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.60.

Crescent Capital BDC Stock Up 0.9%

Shares of CCAP stock opened at $12.26 on Monday. Crescent Capital BDC has a 12 month low of $11.80 and a 12 month high of $17.14. The stock has a market cap of $452.64 million, a P/E ratio of 13.04 and a beta of 0.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. The company has a 50 day simple moving average of $13.45 and a two-hundred day simple moving average of $14.06.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. The business had revenue of $19.05 million for the quarter, compared to analysts’ expectations of $39.83 million. On average, research analysts expect that Crescent Capital BDC will post 2.09 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is 178.72%.

Hedge Funds Weigh In On Crescent Capital BDC

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Crescent Capital BDC during the fourth quarter worth $27,000. Rockefeller Capital Management L.P. bought a new stake in Crescent Capital BDC in the 4th quarter valued at $35,000. VPR Management LLC lifted its stake in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after purchasing an additional 3,000 shares in the last quarter. Westbourne Investments Inc. purchased a new stake in Crescent Capital BDC in the 3rd quarter worth $141,000. Finally, Permanens Capital L.P. bought a new position in shares of Crescent Capital BDC during the 3rd quarter valued at about $147,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

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.