Crescent Capital BDC (NASDAQ:CCAP) Stock Rating Upgraded by Zacks Research

Crescent Capital BDC (NASDAQ:CCAP) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Keefe, Bruyette & Woods lowered their target price on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. B. Riley Financial restated a “neutral” rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.90.

Crescent Capital BDC Price Performance

Shares of CCAP opened at $11.06 on Tuesday. The firm has a market cap of $407.56 million, a PE ratio of 26.98 and a beta of 0.52. The firm’s 50 day moving average price is $11.21 and its 200 day moving average price is $12.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. Crescent Capital BDC has a twelve month low of $10.77 and a twelve month high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of ($6.83) 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 9.34%. As a group, research analysts expect that Crescent Capital BDC will post 1.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jason Breaux acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $11.19 per share, with a total value of $55,950.00. Following the acquisition, the chief executive officer owned 52,636 shares in the company, valued at approximately $588,996.84. This represents a 10.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Henry Chung acquired 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $11.45 per share, with a total value of $51,525.00. Following the completion of the acquisition, the president owned 20,722 shares in the company, valued at $237,266.90. This trade represents a 27.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crescent Capital BDC

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in Crescent Capital BDC by 1,504.9% during the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after purchasing an additional 618,590 shares during the period. North Ground Capital increased its position in Crescent Capital BDC by 99.8% in the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after buying an additional 417,312 shares during the period. Focus Partners Wealth bought a new position in Crescent Capital BDC in the 4th quarter worth approximately $5,476,000. Closed End Fund Advisors Inc. acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth approximately $3,166,000. Finally, 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 buying an additional 181,756 shares during the last quarter. 49.46% of the stock is currently owned by 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.