Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $13.10 Consensus PT from Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have earned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.6250.

A number of equities analysts have recently commented on CCAP shares. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. B. Riley Financial reduced their price objective on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Wells Fargo & Company cut their price target on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, LADENBURG THALM/SH SH reduced their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th.

Insider Transactions at Crescent Capital BDC

In other Crescent Capital BDC news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the completion of the sale, the insider owned 3,680,307 shares in the company, valued at approximately $37,649,540.61. The trade was a 3.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 451,543 shares of company stock valued at $4,689,738. Company insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CCAP. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $27,000. Rockefeller Capital Management L.P. bought a new stake in Crescent Capital BDC in the 4th quarter worth about $35,000. Integrated Wealth Concepts LLC bought a new stake in Crescent Capital BDC in the 2nd quarter worth about $60,000. VPR Management LLC increased its stake 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 buying an additional 3,000 shares during the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in Crescent Capital BDC in the 2nd quarter valued at about $111,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Price Performance

NASDAQ:CCAP opened at $9.92 on Monday. Crescent Capital BDC has a 12-month low of $9.88 and a 12-month high of $15.86. The firm has a market capitalization of $365.51 million, a price-to-earnings ratio of -110.22 and a beta of 0.52. The stock’s 50 day moving average price is $10.89 and its two-hundred day moving average price is $11.82. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $5.12 million during the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. On average, analysts anticipate that Crescent Capital BDC will post 1.49 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 dividend yield of 13.7%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

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.