Crescent Capital BDC (NASDAQ:CCAP) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Crescent Capital BDC (NASDAQ:CCAP) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also issued reports on CCAP. B. Riley Financial cut their price target on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH reduced their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Bank of America reiterated a “neutral” rating and set a $10.25 price target (down from $13.00) on shares of Crescent Capital BDC in a report on Thursday, September 10th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Crescent Capital BDC has a consensus rating of “Hold” and an average target price of $12.62.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP opened at $9.09 on Friday. The firm has a 50-day moving average of $10.28 and a two-hundred day moving average of $11.32. 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 stock has a market cap of $334.97 million, a P/E ratio of -101.00 and a beta of 0.57. Crescent Capital BDC has a 1-year low of $8.86 and a 1-year high of $15.18.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million during the quarter, compared to the consensus estimate of $37.12 million. On average, research analysts expect that Crescent Capital BDC will post 1.49 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 15.0%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is -1,511.11%.

Insider Buying and Selling at Crescent Capital BDC

In related news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the completion of the transaction, the insider directly owned 3,680,307 shares of the company’s stock, valued at $37,649,540.61. This trade represents a 3.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 451,543 shares of company stock valued at $4,689,738. 1.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crescent Capital BDC

A number of institutional investors and hedge funds have recently bought and sold shares of CCAP. Rockefeller Capital Management L.P. acquired a new stake in shares of Crescent Capital BDC in the 4th quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new stake in Crescent Capital BDC in the 2nd quarter valued at approximately $60,000. Beacon Pointe Advisors LLC bought a new stake in Crescent Capital BDC in the 2nd quarter valued at approximately $111,000. Engineers Gate Manager LP acquired a new position in Crescent Capital BDC during the 2nd quarter worth approximately $114,000. Finally, Beaumont Financial Advisors LLC acquired a new position in Crescent Capital BDC during the 1st quarter worth approximately $127,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc (NASDAQ: CCAP) is a business development company that provides financing to middle-market companies. The company invests primarily in privately negotiated loans and other debt securities, with a focus on supporting businesses that may have limited access to traditional bank financing.

Crescent Capital BDC generally emphasizes senior secured loans, including first-lien and second-lien debt, while also making select investments in unsecured debt and equity securities.