ICG Advisors LLC Takes Position in Crescent Capital BDC, Inc. $CCAP

ICG Advisors LLC purchased a new stake in Crescent Capital BDC, Inc. (NASDAQ:CCAP) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 91,355 shares of the company’s stock, valued at approximately $1,284,000. Crescent Capital BDC makes up approximately 4.3% of ICG Advisors LLC’s holdings, making the stock its 4th biggest holding. ICG Advisors LLC owned approximately 0.25% of Crescent Capital BDC at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Crescent Capital BDC by 11.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 152,822 shares of the company’s stock worth $2,147,000 after purchasing an additional 16,026 shares in the last quarter. Muzinich & Co. Inc. lifted its stake in shares of Crescent Capital BDC by 11.7% in the 4th quarter. Muzinich & Co. Inc. now owns 152,822 shares of the company’s stock valued at $2,147,000 after purchasing an additional 16,026 shares during the last quarter. Adams Asset Advisors LLC increased its position in shares of Crescent Capital BDC by 352.6% during the 4th quarter. Adams Asset Advisors LLC now owns 79,828 shares of the company’s stock worth $1,122,000 after purchasing an additional 62,189 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Crescent Capital BDC by 5.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 173,696 shares of the company’s stock worth $2,440,000 after acquiring an additional 8,769 shares during the last quarter. Finally, Riverbridge Partners LLC acquired a new stake in Crescent Capital BDC in the 4th quarter valued at approximately $1,326,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CCAP. Keefe, Bruyette & Woods cut their price target on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. 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 reduced their target price 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. Finally, B. Riley Financial started coverage on Crescent Capital BDC in a research report on Monday, March 30th. They set a “neutral” rating and a $13.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Crescent Capital BDC currently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Crescent Capital BDC Price Performance

Crescent Capital BDC stock opened at $13.50 on Thursday. Crescent Capital BDC, Inc. has a 1 year low of $11.80 and a 1 year high of $17.02. 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 business has a 50-day moving average of $13.01 and a 200-day moving average of $13.83. The firm has a market capitalization of $499.10 million, a P/E ratio of 14.36 and a beta of 0.55.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $39.83 million. On average, equities analysts anticipate that Crescent Capital BDC, Inc. will post 1.63 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.68 dividend on an annualized basis and a yield of 12.4%. Crescent Capital BDC’s payout ratio is currently 178.72%.

Crescent Capital BDC 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.