Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Average Rating of “Moderate Buy” by Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.3750.

CCAP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of 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. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Oppenheimer reduced their price objective on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Wells Fargo & Company lowered their target price on Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, November 14th.

Institutional Investors Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCAP. Franklin Resources Inc. grew its holdings in shares of Crescent Capital BDC by 7.0% during the 3rd 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 in the last quarter. Ares Management LLC raised its holdings in shares of Crescent Capital BDC by 10.0% during the second 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 in the last quarter. Bulldog Investors LLP boosted its position in Crescent Capital BDC by 50.7% during the third quarter. Bulldog Investors LLP now owns 437,518 shares of the company’s stock valued at $6,239,000 after purchasing an additional 147,135 shares during the last quarter. North Ground Capital grew its stake in Crescent Capital BDC by 34.4% in the third quarter. North Ground Capital now owns 418,000 shares of the company’s stock valued at $5,961,000 after purchasing an additional 107,000 shares in the last quarter. Finally, Almitas Capital LLC grew its stake in Crescent Capital BDC by 8.2% in the third quarter. Almitas Capital LLC now owns 376,461 shares of the company’s stock valued at $5,368,000 after purchasing an additional 28,446 shares in the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Stock Performance

Crescent Capital BDC stock opened at $14.56 on Wednesday. The firm’s 50 day simple moving average is $14.32 and its 200-day simple moving average is $14.58. The company has a market cap of $538.57 million, a P/E ratio of 14.86 and a beta of 0.55. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20. Crescent Capital BDC has a fifty-two week low of $13.03 and a fifty-two week high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.46 EPS 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 firm had revenue of $41.35 million during the quarter, compared to analysts’ expectations of $42.35 million. As a group, equities research analysts predict that Crescent Capital BDC will post 2.09 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.68 dividend on an annualized basis and a yield of 11.5%. Crescent Capital BDC’s payout ratio is presently 171.43%.

About Crescent Capital BDC

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.