Wall Street Zen Upgrades Crescent Capital BDC (NASDAQ:CCAP) to “Hold”

Crescent Capital BDC (NASDAQ:CCAP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other research analysts have also commented on the company. LADENBURG THALM/SH SH cut their price target on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Bank of America reissued a “neutral” rating and issued a $10.25 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Thursday, September 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company cut their target price on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.62.

Crescent Capital BDC Stock Performance

Shares of CCAP stock opened at $9.09 on Friday. The stock’s 50-day moving average is $10.28 and its two-hundred day moving average is $11.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. Crescent Capital BDC has a 1 year low of $8.86 and a 1 year high of $15.18. The firm has a market cap of $334.97 million, a price-to-earnings ratio of -101.00 and a beta of 0.57.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Analysts predict that Crescent Capital BDC will post 1.49 earnings per share for the current year.

Insider Buying and Selling at Crescent Capital BDC

In related news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the transaction, the insider owned 3,680,307 shares of the company’s stock, valued at $37,649,540.61. This trade represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 451,543 shares of company stock worth $4,689,738 in the last three months. 1.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors have recently added to or reduced their stakes in the stock. Fidelity National Financial Inc. purchased a new stake in shares of Crescent Capital BDC during the second quarter worth approximately $45,922,000. Rivernorth Capital Management LLC acquired a new stake in shares of Crescent Capital BDC during the second quarter worth $7,675,000. North Ground Capital acquired a new stake in shares of Crescent Capital BDC during the second quarter worth $5,687,136. Alpine Global Management LLC lifted its holdings in shares of Crescent Capital BDC by 82.6% during the fourth quarter. Alpine Global Management LLC now owns 401,756 shares of the company’s stock worth $5,645,000 after purchasing an additional 181,756 shares during the period. Finally, Almitas Capital LLC purchased a new position in Crescent Capital BDC in the 2nd quarter valued at $3,897,000. Institutional investors and hedge funds 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.