Crescent Capital BDC (NASDAQ:CCAP) Trading Down 4% After Analyst Downgrade

Crescent Capital BDC, Inc. (NASDAQ:CCAP)’s share price traded down 4% during mid-day trading on Friday after Raymond James lowered their price target on the stock from $20.00 to $17.00. Raymond James currently has an outperform rating on the stock. Crescent Capital BDC traded as low as $15.30 and last traded at $15.30. 100,356 shares were traded during trading, a decline of 29% from the average session volume of 140,634 shares. The stock had previously closed at $15.94.

CCAP has been the subject of several other research reports. Keefe, Bruyette & Woods lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $18.50 to $17.00 in a report on Friday. Wells Fargo & Company decreased their price objective on Crescent Capital BDC from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.60.

Institutional Investors Weigh In On Crescent Capital BDC

Several large investors have recently added to or reduced their stakes in the company. Ieq Capital LLC increased its holdings in Crescent Capital BDC by 2.6% in the 4th quarter. Ieq Capital LLC now owns 22,725 shares of the company’s stock worth $437,000 after acquiring an additional 584 shares during the last quarter. HighTower Advisors LLC grew its holdings in Crescent Capital BDC by 0.5% during the 1st quarter. HighTower Advisors LLC now owns 137,366 shares of the company’s stock valued at $2,352,000 after buying an additional 702 shares in the last quarter. Denali Advisors LLC grew its holdings in Crescent Capital BDC by 0.5% during the 4th quarter. Denali Advisors LLC now owns 183,783 shares of the company’s stock valued at $3,532,000 after buying an additional 855 shares in the last quarter. Van ECK Associates Corp grew its holdings in Crescent Capital BDC by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 45,562 shares of the company’s stock valued at $876,000 after buying an additional 1,006 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Crescent Capital BDC by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 253,182 shares of the company’s stock valued at $4,866,000 after buying an additional 1,210 shares in the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Stock Down 3.3%

The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 1.18. The firm has a market cap of $571.47 million, a PE ratio of 7.75 and a beta of 0.63. The stock has a fifty day simple moving average of $16.19 and a two-hundred day simple moving average of $18.07.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 14th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $42.13 million for the quarter, compared to analysts’ expectations of $45.08 million. Crescent Capital BDC had a net margin of 37.32% and a return on equity of 11.90%. As a group, sell-side analysts expect that Crescent Capital BDC, Inc. will post 2.09 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 10.89%. The ex-dividend date is Monday, June 30th. Crescent Capital BDC’s payout ratio is presently 84.42%.

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.