Crescent Capital BDC (NASDAQ:CCAP) Sets New 52-Week Low – Here’s Why

Crescent Capital BDC, Inc. (NASDAQ:CCAP)’s share price reached a new 52-week low on Monday . The stock traded as low as $14.36 and last traded at $14.62, with a volume of 103339 shares. The stock had previously closed at $15.71.

Wall Street Analyst Weigh In

CCAP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Crescent Capital BDC from $20.00 to $18.50 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price objective on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.90.

Crescent Capital BDC Stock Down 2.9 %

The stock has a fifty day moving average price of $18.03 and a two-hundred day moving average price of $18.64. The company has a market cap of $526.28 million, a price-to-earnings ratio of 7.14 and a beta of 0.56. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 1.18.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 11.90% and a net margin of 37.32%. The business had revenue of $46.40 million during the quarter, compared to analyst estimates of $47.27 million. As a group, sell-side analysts expect that Crescent Capital BDC, Inc. will post 2.09 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.05 per share. The ex-dividend date was Friday, February 28th. Crescent Capital BDC’s dividend payout ratio is currently 84.42%.

Institutional Trading of Crescent Capital BDC

A number of institutional investors have recently modified their holdings of CCAP. Ieq Capital LLC raised its stake in Crescent Capital BDC by 2.6% in the fourth quarter. Ieq Capital LLC now owns 22,725 shares of the company’s stock valued at $437,000 after purchasing an additional 584 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Crescent Capital BDC by 0.9% in the 4th quarter. Confluence Investment Management LLC now owns 73,839 shares of the company’s stock valued at $1,419,000 after buying an additional 633 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Crescent Capital BDC by 0.5% during the 3rd quarter. HighTower Advisors LLC now owns 141,838 shares of the company’s stock worth $2,624,000 after acquiring an additional 768 shares during the period. Denali Advisors LLC boosted its position in shares of Crescent Capital BDC by 0.5% during the 4th quarter. Denali Advisors LLC now owns 183,783 shares of the company’s stock worth $3,532,000 after acquiring an additional 855 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Crescent Capital BDC by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 45,562 shares of the company’s stock valued at $876,000 after acquiring an additional 1,006 shares during the last quarter. 49.46% of the stock is currently owned by institutional investors.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.