Brokerages Set Crescent Capital BDC, Inc. (NASDAQ:CCAP) Price Target at $16.38

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two 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 12 month price target among analysts that have issued ratings on the stock in the last year is $16.3750.

A number of research analysts have recently weighed in on the stock. Oppenheimer reduced their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. Keefe, Bruyette & Woods dropped their price objective on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Wells Fargo & Company reduced their price objective on Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, November 14th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th.

Institutional Trading of Crescent Capital BDC

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Global Management LLC purchased a new stake in shares of Crescent Capital BDC during the 3rd quarter valued at approximately $3,137,000. Icon Advisers Inc. Co. raised its holdings in Crescent Capital BDC by 91.2% during the 3rd quarter. Icon Advisers Inc. Co. now owns 133,816 shares of the company’s stock valued at $1,908,000 after acquiring an additional 63,843 shares during the period. VPR Management LLC lifted 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 in the last quarter. Permanens Capital L.P. bought a new position in shares of Crescent Capital BDC in the third quarter worth $147,000. Finally, Millennium Management LLC boosted its holdings in shares of Crescent Capital BDC by 78.7% in the third quarter. Millennium Management LLC now owns 202,054 shares of the company’s stock worth $2,881,000 after acquiring an additional 88,966 shares during the period. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Trading Up 1.6%

Shares of Crescent Capital BDC stock opened at $14.28 on Wednesday. The firm has a market cap of $528.22 million, a PE ratio of 14.57 and a beta of 0.54. Crescent Capital BDC has a 1 year low of $13.03 and a 1 year high of $20.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a fifty day moving average price of $14.32 and a 200-day moving average price of $14.57.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.The company had revenue of $41.35 million during the quarter, compared to analysts’ expectations of $42.35 million. Equities research analysts anticipate that Crescent Capital BDC will post 2.09 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.68 annualized dividend and a yield of 11.8%. Crescent Capital BDC’s dividend payout ratio is 171.43%.

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.