Crescent Capital BDC, Inc. (NASDAQ:CCAP) Stock Has Average Price Target of $12.62

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has received an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $12.62.

Several analysts have recently weighed in on the company. B. Riley Financial reduced 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. 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 set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company decreased their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th.

Insider Buying and Selling

In related news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 451,543 shares of company stock valued at $4,689,738. 1.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC raised its holdings in shares of Crescent Capital BDC by 11.8% in the third quarter. Confluence Investment Management LLC now owns 39,579 shares of the company’s stock valued at $363,000 after buying an additional 4,169 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Crescent Capital BDC in the 2nd quarter valued at approximately $114,000. Integrated Wealth Concepts LLC acquired a new position in shares of Crescent Capital BDC in the second quarter valued at approximately $60,000. HighTower Advisors LLC increased its holdings in shares of Crescent Capital BDC by 7.7% in the second quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock valued at $1,414,000 after purchasing an additional 9,286 shares during the period. Finally, Rivernorth Capital Management LLC purchased a new stake in shares of Crescent Capital BDC during the second quarter worth approximately $7,675,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock opened at $9.02 on Friday. The company has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $11.45. Crescent Capital BDC has a 12-month low of $8.94 and a 12-month high of $15.18. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The stock has a market cap of $332.39 million, a price-to-earnings ratio of -100.22 and a beta of 0.57.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly 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 analyst estimates of $37.12 million. On average, equities analysts forecast that Crescent Capital BDC will post 1.49 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

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 $0.34 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 15.1%. Crescent Capital BDC’s dividend payout ratio is -1,511.11%.

About Crescent Capital BDC

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.