Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Average Rating of “Moderate Buy” by Analysts

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $15.50.

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, B. Riley Financial began coverage on Crescent Capital BDC in a research report on Monday, March 30th. They set a “neutral” rating and a $13.50 target price on the stock.

Crescent Capital BDC Stock Performance

CCAP opened at $13.90 on Tuesday. Crescent Capital BDC has a 1-year low of $11.80 and a 1-year high of $17.02. The company has a market cap of $513.88 million, a price-to-earnings ratio of 14.79 and a beta of 0.59. The company’s fifty day moving average price is $12.95 and its two-hundred day moving average price is $13.82. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $19.05 million during the quarter, compared to analysts’ expectations of $39.83 million. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. On average, analysts expect that Crescent Capital BDC will post 1.63 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Crescent Capital BDC’s payout ratio is currently 178.72%.

Institutional Trading of Crescent Capital BDC

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp bought a new position in shares of Crescent Capital BDC during the first quarter valued at about $199,000. Riverbridge Partners LLC grew its position in Crescent Capital BDC by 8.2% in the 1st quarter. Riverbridge Partners LLC now owns 102,056 shares of the company’s stock worth $1,240,000 after purchasing an additional 7,698 shares in the last quarter. LMG Wealth Partners LLC grew its position in Crescent Capital BDC by 17.8% in the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after purchasing an additional 2,048 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Crescent Capital BDC in the 4th quarter valued at about $35,000. Finally, Alpine Global Management LLC lifted its position in shares of Crescent Capital BDC by 82.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors 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.