Crescent Capital BDC, Inc. (CCAP) – What Are Investment Firms Saying About This Stock?

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been given an average rating of “Hold” by the seven analysts that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.25.

CCAP has been the subject of a number of recent analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $10.25 price objective (down from $13.00) on shares of Crescent Capital BDC in a research report on Thursday, September 10th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Raymond James Financial set a $10.00 target price on shares of Crescent Capital BDC in a research report on Thursday. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th.

Crescent Capital BDC Stock Performance

NASDAQ CCAP opened at $8.70 on Tuesday. The business has a 50 day moving average price of $9.78 and a 200 day moving average price of $11.84. The company has a market capitalization of $320.60 million, a P/E ratio of -96.67 and a beta of 0.57. Crescent Capital BDC has a 1-year low of $8.40 and a 1-year high of $15.18. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Sell-side analysts expect that Crescent Capital BDC will post 1.49 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 15.6%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Insider Transactions at Crescent Capital BDC

In other Crescent Capital BDC 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 value of $1,422,522.42. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 451,543 shares of company stock worth $4,689,738. Insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CCAP. Beach Point Capital Management LP increased its stake in Crescent Capital BDC by 1,301.2% during the 3rd quarter. Beach Point Capital Management LP now owns 515,892 shares of the company’s stock valued at $4,736,000 after buying an additional 479,075 shares during the period. TT Capital Management LLC boosted its stake in Crescent Capital BDC by 9.2% in the 3rd quarter. TT Capital Management LLC now owns 27,600 shares of the company’s stock worth $253,000 after purchasing an additional 2,333 shares during the period. Adams Asset Advisors LLC lifted its stake in Crescent Capital BDC by 8.4% in the 3rd quarter. Adams Asset Advisors LLC now owns 119,066 shares of the company’s stock worth $1,093,000 after acquiring an additional 9,238 shares in the last quarter. Confluence Investment Management LLC lifted its position in shares of Crescent Capital BDC by 11.8% in the third quarter. Confluence Investment Management LLC now owns 39,579 shares of the company’s stock worth $363,000 after purchasing an additional 4,169 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at about $114,000. 49.46% of the stock is owned by institutional investors and hedge funds.

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.