Crescent Capital BDC (NASDAQ:CCAP) Hits New 1-Year High at $18.13

Crescent Capital BDC, Inc. (NASDAQ:CCAP)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $18.13 and last traded at $17.90, with a volume of 56018 shares. The stock had previously closed at $17.63.

Analyst Upgrades and Downgrades

CCAP has been the subject of a number of research analyst reports. Oppenheimer boosted their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Wells Fargo & Company upped their price objective on shares of Crescent Capital BDC from $16.00 to $16.50 and gave the company an “equal weight” rating in a report on Monday, January 29th.

Crescent Capital BDC Stock Performance

The stock has a 50 day moving average price of $17.16 and a two-hundred day moving average price of $16.84. The company has a market cap of $666.71 million, a P/E ratio of 7.70 and a beta of 0.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.14.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, February 21st. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Crescent Capital BDC had a return on equity of 11.32% and a net margin of 45.54%. The company had revenue of $50.00 million during the quarter, compared to the consensus estimate of $47.99 million. On average, research analysts predict that Crescent Capital BDC, Inc. will post 2.26 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 9.12%. The ex-dividend date of this dividend was Wednesday, March 27th. Crescent Capital BDC’s payout ratio is presently 71.62%.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its stake in Crescent Capital BDC by 11.7% during the 3rd quarter. Raymond James & Associates now owns 146,303 shares of the company’s stock worth $2,502,000 after buying an additional 15,271 shares during the period. Anchor Investment Management LLC acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth approximately $342,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Crescent Capital BDC in the 3rd quarter worth $240,000. International Assets Investment Management LLC acquired a new stake in Crescent Capital BDC in the 4th quarter valued at $1,254,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Crescent Capital BDC during the 4th quarter valued at $843,000. Institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.