Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for Crescent Capital BDC (NASDAQ:CCAP)

Crescent Capital BDC (NASDAQ:CCAP)‘s stock had its “market perform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a report released on Monday,Benzinga reports. They currently have a $12.00 price objective on the stock, down from their previous price objective of $13.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 7.62% from the company’s current price.

CCAP has been the subject of a number of other reports. LADENBURG THALM/SH SH decreased their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. B. Riley Financial cut their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.10.

Crescent Capital BDC Stock Performance

Shares of NASDAQ:CCAP opened at $11.15 on Monday. The firm’s 50 day simple moving average is $11.15 and its 200-day simple moving average is $12.31. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. Crescent Capital BDC has a one year low of $10.64 and a one year high of $16.03. The firm has a market cap of $410.88 million, a PE ratio of -123.89 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. As a group, equities analysts predict that Crescent Capital BDC will post 1.51 EPS for the current year.

Insider Transactions at Crescent Capital BDC

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ieq Capital LLC raised its position in Crescent Capital BDC by 3.0% during the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after acquiring an additional 746 shares in the last quarter. Mariner LLC increased its holdings in shares of Crescent Capital BDC by 0.3% during the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after purchasing an additional 1,492 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Crescent Capital BDC in the 4th quarter valued at $27,000. LMG Wealth Partners LLC boosted its holdings in Crescent Capital BDC by 17.8% during the first quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after buying an additional 2,048 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Crescent Capital BDC by 20.2% during the fourth quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock valued at $173,000 after buying an additional 2,066 shares during the period. 49.46% of the stock is owned by institutional investors and hedge funds.

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.