Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have earned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.3750.

CCAP has been the subject of several recent analyst reports. Oppenheimer cut their price objective 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. Wells Fargo & Company cut their price target on shares of 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 lowered shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Keefe, Bruyette & Woods cut their target price on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a research note on Friday, November 14th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at approximately $69,000. VPR Management LLC increased its holdings in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the last quarter. Westbourne Investments Inc. purchased a new stake in Crescent Capital BDC in the third quarter valued at approximately $141,000. Permanens Capital L.P. purchased a new stake in Crescent Capital BDC in the third quarter valued at approximately $147,000. Finally, XTX Topco Ltd acquired a new position in Crescent Capital BDC during the second quarter worth $165,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Price Performance

NASDAQ:CCAP opened at $14.52 on Friday. Crescent Capital BDC has a one year low of $13.03 and a one year high of $20.19. The stock has a market cap of $537.14 million, a PE ratio of 14.82 and a beta of 0.54. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a 50 day moving average price of $14.42 and a 200 day moving average price of $14.59.

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

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date of this dividend was Wednesday, December 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is presently 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.