Crescent Capital BDC, Inc. (NASDAQ:CCAP) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have received an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $12.62.

CCAP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Wells Fargo & Company dropped their price objective on shares of 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 report on Saturday, July 25th. LADENBURG THALM/SH SH decreased their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, B. Riley Financial dropped their price target 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.

Crescent Capital BDC Trading Up 0.6%

Shares of CCAP stock opened at $9.07 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC has a 12-month low of $8.94 and a 12-month high of $15.18. The stock has a market capitalization of $334.23 million, a P/E ratio of -100.78 and a beta of 0.57. The firm’s 50 day moving average is $10.39 and its 200 day moving average is $11.39.

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). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Research analysts expect that Crescent Capital BDC will post 1.49 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 15.0%. Crescent Capital BDC’s payout ratio is -1,511.11%.

Insider Transactions at Crescent Capital BDC

In other Crescent Capital BDC news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total value of $1,422,522.42. Following the completion of the sale, the insider owned 3,680,307 shares in the company, valued at $37,649,540.61. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 451,543 shares of company stock worth $4,689,738 over the last three months. Insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LMG Wealth Partners LLC lifted its holdings in Crescent Capital BDC by 17.8% during the first quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock valued at $165,000 after purchasing an additional 2,048 shares in the last quarter. Aspen Grove Capital LLC increased its stake in shares of Crescent Capital BDC by 0.9% in the first 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 in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Crescent Capital BDC during the 4th quarter valued at $35,000. Bank of America Corp DE raised its position 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 valued at $724,000 after purchasing an additional 2,628 shares during the period. Finally, Confluence Investment Management LLC lifted its stake in shares of Crescent Capital BDC by 9.9% during the 2nd quarter. Confluence Investment Management LLC now owns 35,410 shares of the company’s stock valued at $387,000 after buying an additional 3,187 shares in the last quarter. 49.46% of the stock is owned by hedge funds and other institutional investors.

About Crescent Capital BDC

Crescent Capital BDC, Inc (NASDAQ: CCAP) is a business development company that provides financing to middle-market companies. The company invests primarily in privately negotiated loans and other debt securities, with a focus on supporting businesses that may have limited access to traditional bank financing.

Crescent Capital BDC generally emphasizes senior secured loans, including first-lien and second-lien debt, while also making select investments in unsecured debt and equity securities.