Crescent Capital BDC (NASDAQ:CCAP) Stock Rating Lowered by Zacks Research

Crescent Capital BDC (NASDAQ:CCAP) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. LADENBURG THALM/SH SH cut their target price on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Wells Fargo & Company cut their target price on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday. Keefe, Bruyette & Woods dropped their price objective on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Finally, Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.30.

Crescent Capital BDC Stock Performance

CCAP opened at $11.21 on Monday. The stock has a market capitalization of $413.09 million, a price-to-earnings ratio of 27.34 and a beta of 0.59. The company has a fifty day moving average of $12.85 and a 200 day moving average of $13.71. Crescent Capital BDC has a fifty-two week low of $10.92 and a fifty-two week high of $16.03. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of ($6.84) million during 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 9.34%. As a group, sell-side analysts forecast that Crescent Capital BDC will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Crescent Capital BDC by 4.6% during the 1st quarter. Bank of America Corp DE now owns 59,551 shares of the company’s stock worth $724,000 after purchasing an additional 2,628 shares during the period. Aspen Grove Capital LLC boosted its stake in shares of Crescent Capital BDC by 0.9% during the 1st quarter. Aspen Grove Capital LLC now owns 269,852 shares of the company’s stock worth $3,279,000 after purchasing an additional 2,434 shares during the period. Catalyst Capital Advisors LLC boosted its stake in shares of Crescent Capital BDC by 206.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 15,000 shares of the company’s stock worth $182,000 after purchasing an additional 10,100 shares during the period. Beaumont Financial Advisors LLC purchased a new position in shares of Crescent Capital BDC during the 1st quarter worth about $127,000. Finally, Fifth Third Bancorp purchased a new position in shares of Crescent Capital BDC during the 1st quarter worth about $199,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

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.