LADENBURG THALM/SH SH Cuts Crescent Capital BDC (NASDAQ:CCAP) Price Target to $14.00

Crescent Capital BDC (NASDAQ:CCAP) had its target price lowered by LADENBURG THALM/SH SH from $15.00 to $14.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company decreased their target price on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price target for the company from $19.00 to $16.00 in a report on Friday, May 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.30.

Crescent Capital BDC Price Performance

CCAP opened at $11.15 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.53. The firm has a market cap of $410.88 million, a PE ratio of -123.89 and a beta of 0.52. Crescent Capital BDC has a 1 year low of $10.64 and a 1 year high of $16.03. The stock has a 50-day moving average price of $11.15 and a 200-day moving average price of $12.33.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The business had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $37.12 million. Sell-side analysts predict that Crescent Capital BDC will post 1.51 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.2%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Insider Buying and Selling at Crescent Capital BDC

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

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds have recently added to or reduced their stakes in CCAP. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of Crescent Capital BDC during the 4th quarter valued at approximately $35,000. VPR Management LLC grew its stake in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares during the period. Beaumont Financial Advisors LLC purchased a new stake in shares of Crescent Capital BDC during the first quarter worth about $127,000. Finally, Permanens Capital L.P. purchased a new stake in Crescent Capital BDC during the 3rd quarter worth approximately $147,000. 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.