Crescent Capital BDC (NASDAQ:CCAP) Releases Earnings Results, Misses Estimates By $0.46 EPS

Crescent Capital BDC (NASDAQ:CCAP) released its quarterly earnings data on Monday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.46), FiscalAI reports. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The company had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million.

Crescent Capital BDC Trading Down 0.8%

NASDAQ:CCAP traded down $0.09 during mid-day trading on Monday, reaching $11.68. 193,010 shares of the company’s stock traded hands, compared to its average volume of 222,522. Crescent Capital BDC has a 12-month low of $10.64 and a 12-month high of $16.03. The firm has a market capitalization of $430.41 million, a price-to-earnings ratio of 28.49 and a beta of 0.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53. The company has a 50 day moving average price of $11.16 and a 200-day moving average price of $12.42.

Crescent Capital BDC Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a dividend of $0.03 per share. This represents a yield of 107.0%. The ex-dividend date is Monday, November 30th. Crescent Capital BDC’s payout ratio is currently 331.71%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Oppenheimer downgraded Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $19.00 to $16.00 in a research report on Friday, May 15th. B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.90.

Insider Activity at Crescent Capital BDC

In other Crescent Capital BDC news, CEO Jason Breaux bought 5,000 shares of Crescent Capital BDC stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $11.19 per share, with a total value of $55,950.00. Following the completion of the purchase, the chief executive officer owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. This represents a 10.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Henry Chung bought 4,500 shares of Crescent Capital BDC stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the purchase, the president directly owned 20,722 shares of the company’s stock, valued at approximately $237,266.90. This trade represents a 27.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.23% of the company’s stock.

Institutional Trading of Crescent Capital BDC

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Crescent Capital BDC by 3.6% during the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after purchasing an additional 2,128 shares during the period. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC in the 2nd quarter worth about $165,000. Quantbot Technologies LP bought a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at about $219,000. Invesco Ltd. boosted its stake in shares of Crescent Capital BDC by 31.4% during the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after purchasing an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Crescent Capital BDC during the second quarter valued at about $286,000. Institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

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.