Analysts Set Crescent Capital BDC, Inc. (NASDAQ:CCAP) PT at $13.90

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $13.90.

CCAP has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH reduced their target price on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 15th. B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Oppenheimer downgraded Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Finally, Wells Fargo & Company reduced their target price on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th.

Crescent Capital BDC Stock Down 2.7%

CCAP stock opened at $10.92 on Wednesday. Crescent Capital BDC has a fifty-two week low of $10.77 and a fifty-two week high of $16.03. The business’s 50 day moving average price is $11.97 and its two-hundred day moving average price is $13.10. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $402.40 million, a price-to-earnings ratio of 26.63 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The firm had revenue of ($6.84) million for the quarter, compared to the consensus estimate of $39.58 million. As a group, analysts forecast that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.03 dividend. The ex-dividend date is Monday, November 30th. This represents a dividend yield of 107.0%. Crescent Capital BDC’s dividend payout ratio is presently 409.76%.

Insider Activity at Crescent Capital BDC

In related news, CEO Jason Breaux purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the purchase, the chief executive officer directly owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. This represents a 10.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Henry Chung purchased 4,500 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was bought at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the purchase, the president directly owned 20,722 shares in the company, valued at $237,266.90. The trade was a 27.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.23% of the company’s stock.

Institutional Trading of Crescent Capital BDC

Several hedge funds and other institutional investors have recently made changes to their positions in CCAP. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Crescent Capital BDC in the 4th quarter worth 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 grew its stake in shares of Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after buying an additional 3,000 shares during the last quarter. Beaumont Financial Advisors LLC purchased a new stake in shares of Crescent Capital BDC in the 1st quarter worth approximately $127,000. Finally, Permanens Capital L.P. purchased a new stake in shares of Crescent Capital BDC in the 3rd quarter worth approximately $147,000. Hedge funds and other 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.