Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $14.30 Average Target Price from Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.30.

Several research firms recently commented on CCAP. LADENBURG THALM/SH SH reduced their price objective on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 15th. Keefe, Bruyette & Woods reduced their price objective on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a report on Friday, May 15th.

Crescent Capital BDC Price Performance

Shares of NASDAQ:CCAP opened at $11.11 on Friday. Crescent Capital BDC has a 1-year low of $10.92 and a 1-year high of $16.03. 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 business has a fifty day moving average price of $12.47 and a 200-day moving average price of $13.47. The company has a market capitalization of $409.40 million, a PE ratio of 27.10 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The firm had revenue of ($6.84) million during the quarter, compared to the consensus estimate of $39.58 million. As a group, equities analysts expect that Crescent Capital BDC will post 1.38 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.03 dividend. This represents a yield of 107.0%. The ex-dividend date is Monday, November 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is presently 409.76%.

Insider Activity

In other news, CEO Jason Breaux bought 5,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $11.19 per share, with a total value of $55,950.00. Following the completion of the transaction, the chief executive officer owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. This trade represents a 10.50% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Henry Chung bought 4,500 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was purchased at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the transaction, the president directly owned 20,722 shares of the company’s stock, valued at approximately $237,266.90. The trade was 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 Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Crescent Capital BDC by 4.6% in the first quarter. Bank of America Corp DE now owns 59,551 shares of the company’s stock worth $724,000 after purchasing an additional 2,628 shares during the last quarter. Aspen Grove Capital LLC boosted its position in Crescent Capital BDC by 0.9% in the first quarter. Aspen Grove Capital LLC now owns 269,852 shares of the company’s stock worth $3,279,000 after purchasing an additional 2,434 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in Crescent Capital BDC by 206.1% in the first quarter. Catalyst Capital Advisors LLC now owns 15,000 shares of the company’s stock worth $182,000 after purchasing an additional 10,100 shares during the last quarter. Beaumont Financial Advisors LLC purchased a new position in Crescent Capital BDC in the first quarter worth about $127,000. Finally, Fifth Third Bancorp purchased a new position in Crescent Capital BDC in the first quarter worth about $199,000. 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.