Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Consensus Recommendation of “Hold” by Analysts

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.90.

A number of analysts have weighed in on CCAP shares. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Keefe, Bruyette & Woods dropped their target price on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th. Finally, LADENBURG THALM/SH SH cut their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 15th.

Crescent Capital BDC Trading Down 2.5%

CCAP stock opened at $10.78 on Friday. Crescent Capital BDC has a 1-year low of $10.64 and a 1-year high of $16.03. The firm has a market cap of $397.24 million, a P/E ratio of 26.29 and a beta of 0.52. The business’s 50 day moving average is $11.19 and its 200-day moving average is $12.68. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of ($6.83) million during the quarter, compared to the consensus estimate of $39.58 million. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%. Equities analysts anticipate that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a dividend yield of 107.0%. Crescent Capital BDC’s dividend payout ratio (DPR) is presently 331.71%.

Insider Activity at Crescent Capital BDC

In related news, CEO Jason Breaux bought 5,000 shares of Crescent Capital BDC stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the transaction, the chief executive officer owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. This trade represents a 10.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Henry Chung purchased 4,500 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the purchase, the president directly owned 20,722 shares of the company’s stock, valued at $237,266.90. The trade was a 27.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCAP. Northwestern Mutual Wealth Management Co. bought a new position in Crescent Capital BDC in the 4th quarter valued at $27,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Crescent Capital BDC in the 4th quarter valued at $35,000. VPR Management LLC raised its position in shares of Crescent Capital BDC by 150.0% during the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in shares of Crescent Capital BDC during the first quarter valued at $127,000. Finally, Permanens Capital L.P. acquired a new position in shares of Crescent Capital BDC during the third quarter valued at $147,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

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.