Crescent Capital BDC (NASDAQ:CCAP) Issues Earnings Results

Crescent Capital BDC (NASDAQ:CCAP) posted its earnings results on Wednesday. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01, Zacks reports. The firm had revenue of ($6.84) million for the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.20%.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock traded down $0.80 during trading hours on Friday, reaching $11.20. The company had a trading volume of 674,570 shares, compared to its average volume of 206,608. The firm has a market cap of $413.88 million, a PE ratio of 27.30 and a beta of 0.59. Crescent Capital BDC has a one year low of $11.03 and a one year high of $16.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22. The business has a fifty day simple moving average of $12.98 and a 200 day simple moving average of $13.78.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, November 30th. Crescent Capital BDC’s payout ratio is presently 409.76%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. North Ground Capital grew its holdings in Crescent Capital BDC by 99.8% during the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock valued at $11,736,000 after buying an additional 417,312 shares in the last quarter. Invesco Ltd. boosted its position in shares of Crescent Capital BDC by 1,504.9% in the fourth quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after acquiring an additional 618,590 shares during the period. Franklin Resources Inc. grew its stake in Crescent Capital BDC by 7.0% during the third quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after acquiring an additional 35,534 shares in the last quarter. Bulldog Investors LLP grew its stake in Crescent Capital BDC by 4.6% during the fourth quarter. Bulldog Investors LLP now owns 457,518 shares of the company’s stock valued at $6,428,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Mariner LLC increased its holdings in Crescent Capital BDC by 0.3% during the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after acquiring an additional 1,492 shares during the period. Institutional investors own 49.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CCAP shares. Wells Fargo & Company dropped their price target on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday. B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday. Keefe, Bruyette & Woods cut their price target on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $19.00 to $16.00 in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Crescent Capital BDC currently has an average rating of “Moderate Buy” and a consensus price target of $14.70.

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.