Crescent Capital BDC (NASDAQ:CCAP) Rating Increased to Hold at Zacks Research

Crescent Capital BDC (NASDAQ:CCAP) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

CCAP has been the topic of several other reports. Oppenheimer lowered their price target on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Keefe, Bruyette & Woods lowered their target price on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Finally, Wells Fargo & Company reduced their price target on Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Crescent Capital BDC Stock Up 0.9%

Shares of Crescent Capital BDC stock opened at $14.36 on Tuesday. The firm has a market cap of $531.22 million, a PE ratio of 14.65 and a beta of 0.55. The business’s 50 day simple moving average is $14.52 and its 200 day simple moving average is $14.57. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.20 and a current ratio of 1.20. Crescent Capital BDC has a 52-week low of $13.03 and a 52-week high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $41.35 million for the quarter, compared to the consensus estimate of $42.35 million. Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%. On average, analysts predict that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Crescent Capital BDC by 1.3% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 58,783 shares of the company’s stock worth $838,000 after buying an additional 741 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Crescent Capital BDC during the fourth quarter worth about $27,000. Royal Bank of Canada raised its stake 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 worth $1,056,000 after purchasing an additional 2,128 shares in the last quarter. HighTower Advisors LLC raised its stake in Crescent Capital BDC by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 137,997 shares of the company’s stock worth $1,968,000 after purchasing an additional 2,314 shares in the last quarter. Finally, VPR Management LLC boosted its holdings in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 49.46% of the company’s stock.

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.