Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Average Recommendation of “Hold” from Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $13.90.

Several equities analysts have commented on the stock. LADENBURG THALM/SH SH decreased their price objective on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $19.00 to $16.00 in a report on Friday, May 15th. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research downgraded shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th.

Insider Activity

In other Crescent Capital BDC news, CEO Jason Breaux purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the purchase, the chief executive officer owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. The trade was a 10.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Henry Chung purchased 4,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the president directly owned 20,722 shares of the company’s stock, valued at $237,266.90. This represents a 27.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently modified their holdings of the business. Alpine Global Management LLC acquired a new position in shares of Crescent Capital BDC in the third quarter valued at about $3,137,000. Bulldog Investors LLP grew its stake in shares of Crescent Capital BDC by 50.7% in the third quarter. Bulldog Investors LLP now owns 437,518 shares of the company’s stock valued at $6,239,000 after acquiring an additional 147,135 shares in the last quarter. ICG Advisors LLC acquired a new position in shares of Crescent Capital BDC in the fourth quarter valued at about $1,284,000. Riverbridge Partners LLC acquired a new position in shares of Crescent Capital BDC in the fourth quarter valued at about $1,326,000. Finally, Closed End Fund Advisors Inc. acquired a new position in shares of Crescent Capital BDC in the fourth quarter valued at about $3,166,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Price Performance

NASDAQ:CCAP opened at $11.27 on Wednesday. Crescent Capital BDC has a one year low of $10.92 and a one year high of $16.03. The company has a market cap of $415.25 million, a P/E ratio of 27.49 and a beta of 0.52. The firm’s fifty day moving average price is $12.18 and its two-hundred day moving average price is $13.24. 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 EPS for the quarter, beating the consensus estimate 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 firm had revenue of ($6.84) million for the quarter, compared to the consensus estimate of $39.58 million. Equities analysts expect that Crescent Capital BDC will post 1.38 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.03 dividend. This represents a dividend yield of 107.0%. The ex-dividend date is Monday, November 30th. Crescent Capital BDC’s payout ratio is currently 331.71%.

Crescent Capital BDC Company 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.