Pettinga Financial Advisors LLC Purchases New Shares in Crescent Capital BDC, Inc. $CCAP

Pettinga Financial Advisors LLC acquired a new position in Crescent Capital BDC, Inc. (NASDAQ:CCAP) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 59,767 shares of the company’s stock, valued at approximately $852,000.

Several other hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at about $69,000. XTX Topco Ltd purchased a new position in Crescent Capital BDC during the second quarter worth approximately $165,000. Catalina Capital Group LLC acquired a new stake in Crescent Capital BDC in the second quarter valued at approximately $174,000. Quantbot Technologies LP purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at approximately $219,000. Finally, Adams Asset Advisors LLC acquired a new position in shares of Crescent Capital BDC during the 3rd quarter worth approximately $252,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Trading Up 1.6%

Shares of CCAP opened at $14.28 on Friday. Crescent Capital BDC, Inc. has a 52-week low of $13.03 and a 52-week high of $20.19. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.23. The firm’s fifty day moving average is $14.32 and its two-hundred day moving average is $14.57. The stock has a market cap of $528.22 million, a PE ratio of 14.57 and a beta of 0.54.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, November 12th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $41.35 million during the quarter, compared to analyst estimates of $42.35 million. Crescent Capital BDC had a net margin of 20.84% and a return on equity of 9.76%. Research analysts forecast that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.42 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.68 dividend on an annualized basis and a yield of 11.8%. Crescent Capital BDC’s dividend payout ratio is presently 171.43%.

Wall Street Analysts Forecast Growth

CCAP has been the topic of a number of recent analyst reports. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Wells Fargo & Company decreased their price objective on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, November 14th. Keefe, Bruyette & Woods dropped their target price on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Oppenheimer cut their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Finally, Wall Street Zen lowered shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Crescent Capital BDC 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.