Crescent Capital BDC (NASDAQ:CCAP) Price Target Lowered to $15.00 at Keefe, Bruyette & Woods

Crescent Capital BDC (NASDAQ:CCAP) had its target price decreased by equities research analysts at Keefe, Bruyette & Woods from $15.50 to $15.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 11.86% from the stock’s current price.

CCAP has been the subject of a number of other research reports. Wells Fargo & Company decreased their price objective on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. B. Riley Financial started coverage on shares of Crescent Capital BDC in a research report on Monday, March 30th. They set a “neutral” rating and a $13.50 price target for the company. 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, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Crescent Capital BDC currently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Crescent Capital BDC Trading Up 2.8%

NASDAQ CCAP opened at $13.41 on Thursday. The stock’s 50 day moving average is $13.10 and its 200 day moving average is $13.86. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $495.77 million, a PE ratio of 14.27 and a beta of 0.55. Crescent Capital BDC has a twelve month low of $11.80 and a twelve month high of $17.02.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $19.05 million during the quarter, compared to the consensus estimate of $39.83 million. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%. Research analysts forecast that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Institutional Trading of Crescent Capital BDC

Several institutional investors have recently bought and sold shares of the company. Alpine Global Management LLC bought a new position in Crescent Capital BDC in the 3rd quarter valued at approximately $3,137,000. Bulldog Investors LLP lifted its position in Crescent Capital BDC by 50.7% in the 3rd quarter. Bulldog Investors LLP now owns 437,518 shares of the company’s stock valued at $6,239,000 after acquiring an additional 147,135 shares in the last quarter. North Ground Capital lifted its position in Crescent Capital BDC by 34.4% in the 3rd quarter. North Ground Capital now owns 418,000 shares of the company’s stock valued at $5,961,000 after acquiring an additional 107,000 shares in the last quarter. Riverbridge Partners LLC purchased a new position in Crescent Capital BDC in the 4th quarter worth about $1,326,000. Finally, Pettinga Financial Advisors LLC purchased a new position in Crescent Capital BDC in the 3rd quarter worth about $852,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

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.