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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has received a consensus rating of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. Six research 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 analysts that have issued ratings on the stock in the last year is $12.25.

Several brokerages have weighed in on CCAP. Bank of America cut Crescent Capital BDC from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $10.25 in a report on Thursday, September 10th. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. B. Riley Financial lowered their target price on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Wells Fargo & Company reduced their price target on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Finally, Raymond James Financial set a $10.00 price objective on Crescent Capital BDC in a research note on Thursday, October 22nd.

Insiders Place Their Bets

In other news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 3,680,307 shares in the company, valued at approximately $37,649,540.61. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 451,543 shares of company stock valued at $4,689,738 over the last ninety days. Insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCAP. BlackRock Inc. acquired a new position in shares of Crescent Capital BDC in the second quarter valued at $1,361,000. Fidelity National Financial Inc. bought a new position in Crescent Capital BDC in the 2nd quarter valued at about $45,922,000. Beach Point Capital Management LP lifted its position in Crescent Capital BDC by 1,301.2% during the third quarter. Beach Point Capital Management LP now owns 515,892 shares of the company’s stock worth $4,736,000 after acquiring an additional 479,075 shares during the last quarter. North Ground Capital acquired a new stake in Crescent Capital BDC during the second quarter worth approximately $5,687,136. Finally, Rivernorth Capital Management LLC bought a new stake in shares of Crescent Capital BDC during the second quarter worth approximately $7,675,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Stock Up 1.5%

Shares of CCAP opened at $9.41 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $9.57 and a two-hundred day moving average price of $11.69. The stock has a market cap of $346.72 million, a price-to-earnings ratio of -104.56 and a beta of 0.57. Crescent Capital BDC has a 12 month low of $8.40 and a 12 month high of $15.18.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data 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 positive return on equity of 9.02% and a negative net margin of 2.02%. The firm had revenue of $5.12 million for the quarter, compared to analyst estimates of $37.12 million. Equities analysts predict that Crescent Capital BDC will post 1.49 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 14.5%. Crescent Capital BDC’s dividend payout ratio (DPR) is presently -1,511.11%.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

Its investment portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments and selected equity interests. Crescent Capital BDC generally works with established companies across a range of industries, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

The company is externally managed by Crescent Cap Advisors LLC, an affiliate of Crescent Capital Group LP, an investment firm specializing in credit and alternative investments.