Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Consensus Rating of “Hold” by Brokerages

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

A number of equities analysts have recently weighed in on CCAP shares. Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. B. Riley Financial restated a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Wells Fargo & Company dropped their price objective on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, May 15th. Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods lowered their price target on Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th.

Crescent Capital BDC Stock Performance

Shares of NASDAQ:CCAP opened at $10.84 on Friday. The firm’s 50 day simple moving average is $11.18 and its 200 day simple moving average is $12.66. Crescent Capital BDC has a fifty-two week low of $10.64 and a fifty-two week high of $16.03. The company has a market capitalization of $399.45 million, a price-to-earnings ratio of 26.44 and a beta of 0.52. 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 issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 ($6.83) million during the quarter, compared to analysts’ expectations of $39.58 million. As a group, sell-side analysts forecast that Crescent Capital BDC will post 1.38 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

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

Insider Buying and Selling

In related news, CEO Jason Breaux bought 5,000 shares of Crescent Capital BDC stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $11.19 per share, with a total value of $55,950.00. Following the purchase, the chief executive officer owned 52,636 shares in the company, valued at approximately $588,996.84. This trade represents a 10.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Henry Chung bought 4,500 shares of the stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of $11.45 per share, with a total value of $51,525.00. Following the acquisition, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This represents a 27.74% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCAP. Ieq Capital LLC grew its holdings in shares of Crescent Capital BDC by 3.0% during the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock worth $358,000 after buying an additional 746 shares in the last quarter. Mariner LLC lifted its stake in Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after acquiring an additional 1,492 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Crescent Capital BDC in the 4th quarter valued at approximately $27,000. LMG Wealth Partners LLC boosted its position in Crescent Capital BDC by 17.8% during the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after acquiring an additional 2,048 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in Crescent Capital BDC by 20.2% during the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after acquiring an additional 2,066 shares during the last quarter. 49.46% of the stock is owned by institutional investors and hedge funds.

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.