Crescent Capital BDC (NASDAQ:CCAP) Releases Earnings Results, Beats Expectations By $0.01 EPS

Crescent Capital BDC (NASDAQ:CCAP) posted its earnings results on Wednesday. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01, Zacks reports. Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP traded up $0.39 during trading on Wednesday, hitting $13.27. The company had a trading volume of 216,494 shares, compared to its average volume of 190,976. The firm has a market capitalization of $490.86 million, a price-to-earnings ratio of 13.54 and a beta of 0.55. The stock has a fifty day simple moving average of $14.29 and a two-hundred day simple moving average of $14.53. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.23. Crescent Capital BDC has a fifty-two week low of $12.70 and a fifty-two week high of $18.57.

Institutional Investors Weigh In On Crescent Capital BDC

Large investors have recently bought and sold shares of the company. Ieq Capital LLC lifted its position in shares of Crescent Capital BDC by 3.0% in the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after acquiring an additional 746 shares in the last quarter. Mariner LLC boosted its position in shares of Crescent Capital BDC by 0.3% during 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 during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Crescent Capital BDC during the 4th quarter valued at about $27,000. NewEdge Advisors LLC raised its stake in Crescent Capital BDC by 20.2% during the fourth quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after purchasing an additional 2,066 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Crescent Capital BDC by 3.6% in the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after purchasing an additional 2,128 shares during the last quarter. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented 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, January 10th. Keefe, Bruyette & Woods lowered their price target on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a report on Friday, November 14th. Wells Fargo & Company dropped their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, November 14th. Oppenheimer decreased their price objective on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. Finally, Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

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.