Crescent Capital BDC (NASDAQ:CCAP) Sees Strong Trading Volume – Here’s What Happened

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw unusually-high trading volume on Thursday . Approximately 167,409 shares traded hands during trading, an increase of 90% from the previous session’s volume of 88,297 shares.The stock last traded at $19.15 and had previously closed at $20.00.

Analyst Ratings Changes

A number of equities analysts have recently commented on CCAP shares. Wells Fargo & Company lifted their price target on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Crescent Capital BDC currently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Crescent Capital BDC Trading Down 4.2 %

The company has a 50-day simple moving average of $19.48 and a 200-day simple moving average of $18.86. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $709.81 million, a P/E ratio of 7.50 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 12.20% and a net margin of 47.06%. The company had revenue of $46.40 million for the quarter, compared to analyst estimates of $47.27 million. On average, sell-side analysts forecast that Crescent Capital BDC, Inc. will post 2.43 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.77%. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, December 31st. Crescent Capital BDC’s dividend payout ratio is presently 65.88%.

Hedge Funds Weigh In On Crescent Capital BDC

Large investors have recently modified their holdings of the stock. Montag A & Associates Inc. acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth approximately $35,000. C M Bidwell & Associates Ltd. acquired a new position in Crescent Capital BDC in the fourth quarter valued at approximately $39,000. Aquatic Capital Management LLC acquired a new position in Crescent Capital BDC in the fourth quarter valued at approximately $129,000. Generation Capital Management LLC acquired a new position in Crescent Capital BDC in the fourth quarter valued at approximately $192,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Crescent Capital BDC in the fourth quarter valued at approximately $218,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.