Keefe, Bruyette & Woods Cuts Crescent Capital BDC (NASDAQ:CCAP) Price Target to $15.50

Crescent Capital BDC (NASDAQ:CCAP) had its target price reduced by Keefe, Bruyette & Woods from $17.00 to $15.50 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently issued reports on the company. LADENBURG THALM/SH SH raised Crescent Capital BDC to a “strong-buy” rating in a research report on Friday, August 15th. Zacks Research cut shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Crescent Capital BDC Stock Up 0.5%

NASDAQ:CCAP opened at $13.66 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.23. The company has a market cap of $505.28 million, a price-to-earnings ratio of 13.94 and a beta of 0.57. The stock has a fifty day simple moving average of $14.51 and a 200-day simple moving average of $14.82. Crescent Capital BDC has a twelve month low of $13.30 and a twelve month high of $20.19.

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

Crescent Capital BDC Announces Dividend

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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Crescent Capital BDC’s payout ratio is currently 171.43%.

Insider Buying and Selling at Crescent Capital BDC

In related news, Director Raymond Barrios purchased 3,245 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average price of $15.63 per share, for a total transaction of $50,719.35. Following the acquisition, the director directly owned 19,177 shares of the company’s stock, valued at $299,736.51. This trade represents a 20.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.14% of the stock is currently owned by company insiders.

Institutional Trading of Crescent Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of CCAP. Franklin Resources Inc. boosted its stake in shares of Crescent Capital BDC by 7.0% during the third quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after acquiring an additional 35,534 shares during the last quarter. Ares Management LLC boosted its holdings in Crescent Capital BDC by 10.0% in the 2nd quarter. Ares Management LLC now owns 516,409 shares of the company’s stock worth $7,281,000 after acquiring an additional 46,836 shares during the period. North Ground Capital increased its position in shares of Crescent Capital BDC by 34.4% during the third quarter. North Ground Capital now owns 418,000 shares of the company’s stock worth $5,961,000 after acquiring an additional 107,000 shares during the last quarter. Condor Capital Management increased its stake in shares of Crescent Capital BDC by 6.2% in the third quarter. Condor Capital Management now owns 326,859 shares of the company’s stock worth $4,661,000 after buying an additional 19,121 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Crescent Capital BDC by 16.5% in the 3rd quarter. Raymond James Financial Inc. now owns 275,906 shares of the company’s stock worth $3,934,000 after purchasing an additional 39,089 shares during the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

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.