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

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been given an average rating of “Hold” by the six analysts that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $13.10.

A number of equities analysts have recently weighed in on the company. LADENBURG THALM/SH SH lowered their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, B. Riley Financial dropped their target price on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Wednesday, August 12th.

Insider Activity

In other Crescent Capital BDC news, President Henry Chung acquired 4,500 shares of the company’s stock in a transaction 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 purchase, the president directly owned 20,722 shares of the company’s stock, valued at $237,266.90. This trade represents a 27.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jason Breaux acquired 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $11.19 per share, with a total value of $55,950.00. Following the acquisition, the chief executive officer directly 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 disclosure for this purchase is available in the SEC filing. 1.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors have recently made changes to their positions in the stock. Almitas Capital LLC acquired a new stake in Crescent Capital BDC during the second quarter worth approximately $3,897,000. Bank of America Corp DE acquired a new position in Crescent Capital BDC in the 2nd quarter valued at $1,077,000. North Ground Capital bought a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at $5,687,136,000. Ieq Capital LLC bought a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at $296,000. Finally, Denali Advisors LLC acquired a new stake in shares of Crescent Capital BDC during the 2nd quarter worth $1,056,000. 49.46% of the stock is currently owned by institutional investors.

Crescent Capital BDC Price Performance

Shares of CCAP opened at $10.82 on Thursday. The company’s 50-day moving average is $11.15 and its 200-day moving average is $12.28. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $398.72 million, a PE ratio of -120.22 and a beta of 0.52. Crescent Capital BDC has a fifty-two week low of $10.64 and a fifty-two week high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The company had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Equities analysts forecast that Crescent Capital BDC will post 1.51 EPS for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 12.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

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.