Crescent Capital BDC, Inc. $CCAP Shares Purchased by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. boosted its holdings in Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 91.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 133,816 shares of the company’s stock after purchasing an additional 63,843 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Crescent Capital BDC were worth $1,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Ground Capital boosted its position in shares of Crescent Capital BDC by 34.4% during the 3rd quarter. North Ground Capital now owns 418,000 shares of the company’s stock worth $5,961,000 after acquiring an additional 107,000 shares in the last quarter. Ares Management LLC raised its position in shares of Crescent Capital BDC by 10.0% during the 2nd quarter. Ares Management LLC now owns 516,409 shares of the company’s stock worth $7,281,000 after acquiring an additional 46,836 shares in the last quarter. Franklin Resources Inc. lifted its stake in Crescent Capital BDC by 16.8% during the second quarter. Franklin Resources Inc. now owns 504,926 shares of the company’s stock worth $7,119,000 after purchasing an additional 72,455 shares during the last quarter. Pettinga Financial Advisors LLC purchased a new stake in Crescent Capital BDC during the third quarter worth approximately $852,000. Finally, FJ Capital Management LLC acquired a new position in Crescent Capital BDC in the second quarter valued at approximately $531,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on CCAP shares. Wells Fargo & Company dropped their price target on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Oppenheimer reduced 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. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Keefe, Bruyette & Woods cut 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 research note 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 issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.13.

Crescent Capital BDC Trading Down 2.7%

NASDAQ:CCAP opened at $12.98 on Friday. The stock’s 50 day moving average price is $14.06 and its 200 day moving average price is $14.44. The company has a market capitalization of $479.22 million, a PE ratio of 13.81 and a beta of 0.57. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. Crescent Capital BDC, Inc. has a 52-week low of $12.56 and a 52-week high of $17.97.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%.The company had revenue of $40.80 million for the quarter, compared to analyst estimates of $39.83 million. On average, research analysts anticipate that Crescent Capital BDC, Inc. will post 2.09 EPS for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Crescent Capital BDC’s payout ratio is presently 178.72%.

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.