Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $19.00 Average Target Price from Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.00.

A number of analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. LADENBURG THALM/SH SH assumed coverage on shares of Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Bank of America cut their price target on shares of Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Crescent Capital BDC Stock Down 0.1 %

Shares of CCAP opened at $19.06 on Tuesday. The firm has a market cap of $706.36 million, a P/E ratio of 7.47 and a beta of 0.81. Crescent Capital BDC has a 12-month low of $15.91 and a 12-month high of $19.63. The company’s 50-day moving average price is $18.52 and its 200 day moving average price is $18.47. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14.

Crescent Capital BDC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.81%. Crescent Capital BDC’s payout ratio is currently 65.88%.

Hedge Funds Weigh In On Crescent Capital BDC

A number of institutional investors and hedge funds have recently made changes to their positions in CCAP. Sun Life Financial Inc. grew its position in shares of Crescent Capital BDC by 20.7% during the third quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock worth $41,187,000 after buying an additional 382,542 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Crescent Capital BDC in the third quarter valued at approximately $4,878,000. International Assets Investment Management LLC acquired a new position in Crescent Capital BDC in the third quarter valued at approximately $1,899,000. Millennium Management LLC boosted its holdings in Crescent Capital BDC by 31.9% in the second quarter. Millennium Management LLC now owns 268,097 shares of the company’s stock valued at $5,035,000 after purchasing an additional 64,902 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in Crescent Capital BDC in the second quarter valued at approximately $1,021,000. 49.46% of the stock is owned by institutional investors and hedge funds.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.