Crescent Capital BDC (NASDAQ:CCAP) Price Target Cut to $15.00 by Analysts at LADENBURG THALM/SH SH

Crescent Capital BDC (NASDAQ:CCAP) had its target price reduced by LADENBURG THALM/SH SH from $16.00 to $15.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. LADENBURG THALM/SH SH’s target price would suggest a potential upside of 34.92% from the company’s current price.

A number of other equities research analysts also recently weighed in on CCAP. Wells Fargo & Company lowered their price target on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $19.00 to $16.00 in a research report on Friday. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Keefe, Bruyette & Woods cut their price objective on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Finally, B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.75.

Crescent Capital BDC Price Performance

Shares of CCAP stock traded down $0.87 during trading on Friday, hitting $11.12. The company had a trading volume of 859,443 shares, compared to its average volume of 208,285. The stock’s 50-day moving average is $12.98 and its two-hundred day moving average is $13.78. The stock has a market capitalization of $411.03 million, a price-to-earnings ratio of 27.12 and a beta of 0.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. Crescent Capital BDC has a 52 week low of $11.03 and a 52 week high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of ($6.84) million during the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.20%. As a group, analysts predict that Crescent Capital BDC will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

A number of institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Crescent Capital BDC during the fourth quarter valued at approximately $27,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Crescent Capital BDC in the 4th quarter worth approximately $35,000. VPR Management LLC increased its position in Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after buying an additional 3,000 shares in the last quarter. Beaumont Financial Advisors LLC bought a new position in Crescent Capital BDC during the 1st quarter valued at approximately $127,000. Finally, Westbourne Investments Inc. purchased a new position in Crescent Capital BDC during the third quarter valued at $141,000. Institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

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.