Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Consensus Rating of “Hold” from Brokerages

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.62.

CCAP has been the subject of several recent analyst reports. B. Riley Financial decreased their price objective on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. LADENBURG THALM/SH SH dropped their price objective on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Bank of America reissued a “neutral” rating and set a $10.25 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Thursday, September 10th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Finally, Wells Fargo & Company lowered their price target 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 Price Performance

Crescent Capital BDC stock opened at $9.09 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC has a 52-week low of $8.86 and a 52-week high of $15.18. The firm has a market cap of $334.97 million, a PE ratio of -101.00 and a beta of 0.57. The company’s 50 day moving average is $10.32 and its two-hundred day moving average is $11.34.

Crescent Capital BDC (NASDAQ:CCAP) last released 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). The company had revenue of $5.12 million for the quarter, compared to analyst estimates of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. On average, research 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 declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 15.0%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Insider Buying and Selling at Crescent Capital BDC

In other news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total value of $1,422,522.42. Following the completion of the sale, the insider directly owned 3,680,307 shares of the company’s stock, valued at approximately $37,649,540.61. The trade was a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 451,543 shares of company stock valued at $4,689,738. 1.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Crescent Capital BDC during the 2nd quarter worth approximately $1,361,000. Fidelity National Financial Inc. acquired a new stake in shares of Crescent Capital BDC during the second quarter worth $45,922,000. Closed End Fund Advisors Inc. acquired a new stake in shares of Crescent Capital BDC during the fourth quarter worth $3,166,000. North Ground Capital acquired a new position in Crescent Capital BDC in the 2nd quarter valued at $5,687,136. Finally, Rivernorth Capital Management LLC acquired a new stake in shares of Crescent Capital BDC in the 2nd quarter worth $7,675,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc (NASDAQ: CCAP) is a business development company that provides financing to middle-market companies. The company invests primarily in privately negotiated loans and other debt securities, with a focus on supporting businesses that may have limited access to traditional bank financing.

Crescent Capital BDC generally emphasizes senior secured loans, including first-lien and second-lien debt, while also making select investments in unsecured debt and equity securities.