Crescent Capital BDC, Inc. $CCAP Shares Bought by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. raised its stake in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 91.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,816 shares of the company’s stock after acquiring an additional 63,843 shares during the period. Icon Advisers Inc. Co. owned approximately 0.36% of Crescent Capital BDC worth $1,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Westbourne Investments Inc. purchased a new stake in shares of Crescent Capital BDC in the 3rd quarter valued at $141,000. XTX Topco Ltd purchased a new position in Crescent Capital BDC during the 2nd quarter valued at about $165,000. Quantbot Technologies LP acquired a new position in Crescent Capital BDC in the 2nd quarter valued at about $219,000. Catalina Capital Group LLC grew its position in Crescent Capital BDC by 37.3% in the 3rd quarter. Catalina Capital Group LLC now owns 16,935 shares of the company’s stock valued at $241,000 after acquiring an additional 4,599 shares in the last quarter. Finally, Adams Asset Advisors LLC purchased a new stake in Crescent Capital BDC during the third quarter worth about $252,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CCAP shares. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Wells Fargo & Company cut their target price on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Oppenheimer reduced their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, November 14th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

Crescent Capital BDC Price Performance

CCAP stock opened at $12.98 on Friday. The business’s 50-day moving average is $14.06 and its two-hundred day moving average is $14.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $479.22 million, a P/E ratio of 13.81 and a beta of 0.57. Crescent Capital BDC, Inc. has a 1 year low of $12.56 and a 1 year high of $17.97.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%.The business had revenue of $40.80 million during the quarter, compared to the consensus estimate of $39.83 million. Analysts anticipate that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 12.9%. The ex-dividend date is Tuesday, March 31st. Crescent Capital BDC’s payout ratio is 178.72%.

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.