Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $13.10.

Several equities research analysts recently commented on the company. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their target price for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Wells Fargo & Company reduced their price objective on shares of 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th.

Crescent Capital BDC Price Performance

CCAP stock opened at $10.37 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. The firm has a market cap of $382.13 million, a price-to-earnings ratio of -115.22 and a beta of 0.52. The company’s fifty day simple moving average is $10.98 and its 200 day simple moving average is $11.93. Crescent Capital BDC has a 12-month low of $10.26 and a 12-month high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $37.12 million. On average, analysts expect that Crescent Capital BDC will post 1.51 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 13.1%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is presently -1,511.11%.

Insiders Place Their Bets

In other news, major shareholder & Guaranty Life Insur Fidelity sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $10.44, for a total transaction of $469,800.00. Following the completion of the sale, the insider owned 3,961,279 shares in the company, valued at $41,355,752.76. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Henry Chung bought 2,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the completion of the transaction, the president directly owned 23,917 shares of the company’s stock, valued at $260,456.13. This trade represents a 11.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 170,571 shares of company stock valued at $1,800,524 over the last 90 days. Corporate insiders own 1.23% of the company’s stock.

Institutional Trading of Crescent Capital BDC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ieq Capital LLC boosted its holdings in Crescent Capital BDC by 3.0% during the 4th quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock worth $358,000 after acquiring an additional 746 shares during the last quarter. Mariner LLC lifted its position in shares of Crescent Capital BDC by 0.3% during the fourth quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after purchasing an additional 1,492 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Crescent Capital BDC during the fourth quarter valued at about $27,000. LMG Wealth Partners LLC boosted its holdings in Crescent Capital BDC by 17.8% during the first quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after purchasing an additional 2,048 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Crescent Capital BDC by 20.2% in the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after purchasing an additional 2,066 shares in the last quarter. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

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.