Crescent Capital BDC, Inc. (NASDAQ:CCAP) Stock Has Average Price Target of $12.25

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $12.25.

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. B. Riley Financial dropped their price objective on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Finally, Raymond James Financial set a $10.00 price objective on Crescent Capital BDC in a report on Thursday, October 22nd.

Crescent Capital BDC Stock Performance

Shares of CCAP opened at $9.27 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. Crescent Capital BDC has a one year low of $8.40 and a one year high of $15.18. The stock has a 50-day moving average of $9.60 and a two-hundred day moving average of $11.71. The stock has a market cap of $341.60 million, a P/E ratio of -103.00 and a beta of 0.57.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. As a group, research analysts predict that Crescent Capital BDC will post 1.49 EPS for the current year.

Crescent Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 14.7%. Crescent Capital BDC’s payout ratio is -1,511.11%.

Insider Buying and Selling at Crescent Capital BDC

In other news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the completion of the sale, the insider owned 3,680,307 shares in the company, valued at $37,649,540.61. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 451,543 shares of company stock worth $4,689,738 in the last three months. 1.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crescent Capital BDC

A number of large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at $1,361,000. Fidelity National Financial Inc. purchased a new stake in shares of Crescent Capital BDC during the second quarter worth about $45,922,000. Beach Point Capital Management LP raised its position in shares of Crescent Capital BDC by 1,301.2% in the third quarter. Beach Point Capital Management LP now owns 515,892 shares of the company’s stock valued at $4,736,000 after buying an additional 479,075 shares during the last quarter. North Ground Capital purchased a new position in shares of Crescent Capital BDC during the second quarter valued at approximately $5,687,136. Finally, Rivernorth Capital Management LLC acquired a new stake in Crescent Capital BDC during the second quarter worth approximately $7,675,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

Its investment portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments and selected equity interests. Crescent Capital BDC generally works with established companies across a range of industries, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

The company is externally managed by Crescent Cap Advisors LLC, an affiliate of Crescent Capital Group LP, an investment firm specializing in credit and alternative investments.