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

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

A number of other equities research analysts also recently commented on CCAP. Wells Fargo & Company dropped their price objective on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday. B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods lowered their price objective on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Finally, Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Crescent Capital BDC has a consensus rating of “Hold” and an average target price of $14.30.

Crescent Capital BDC Trading Up 1.2%

Shares of NASDAQ:CCAP opened at $11.21 on Monday. Crescent Capital BDC has a 52 week low of $10.92 and a 52 week high of $16.03. The company’s 50 day moving average is $12.85 and its two-hundred day moving average is $13.71. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35. The company has a market cap of $413.09 million, a PE ratio of 27.34 and a beta of 0.59.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The company had revenue of ($6.84) million for the quarter, compared to the consensus estimate of $39.58 million. Equities analysts predict that Crescent Capital BDC will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Crescent Capital BDC

Several hedge funds have recently made changes to their positions in the company. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Crescent Capital BDC by 1.3% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 58,783 shares of the company’s stock valued at $838,000 after purchasing an additional 741 shares during the period. Ieq Capital LLC lifted its stake in shares of Crescent Capital BDC by 3.0% in the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after purchasing an additional 746 shares during the period. Mariner LLC lifted its stake in shares of Crescent Capital BDC by 0.3% in the fourth quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after purchasing an additional 1,492 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $27,000. Finally, LMG Wealth Partners LLC lifted its stake in shares of Crescent Capital BDC by 17.8% in 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 during the period. Institutional investors and hedge funds own 49.46% of the company’s stock.

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.