Crescent Capital BDC (NASDAQ:CCAP) Upgraded at Zacks Research

Zacks Research upgraded shares of Crescent Capital BDC (NASDAQ:CCAP) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on CCAP. Wells Fargo & Company lowered their target price on shares of 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. Oppenheimer decreased their price target on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Keefe, Bruyette & Woods decreased 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Crescent Capital BDC Price Performance

NASDAQ:CCAP opened at $14.12 on Tuesday. Crescent Capital BDC has a 12 month low of $13.03 and a 12 month high of $20.19. The stock has a 50 day moving average of $14.51 and a two-hundred day moving average of $14.56. 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 firm has a market cap of $522.30 million, a P/E ratio of 14.41 and a beta of 0.55.

Crescent Capital BDC (NASDAQ:CCAP) last released its 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). The firm had revenue of $41.35 million during the quarter, compared to analysts’ expectations of $42.35 million. Crescent Capital BDC had a net margin of 20.84% and a return on equity of 9.76%. On average, analysts expect that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Institutional Trading of Crescent Capital BDC

Several hedge funds have recently made changes to their positions in CCAP. North Ground Capital increased its holdings in shares of Crescent Capital BDC by 99.8% during the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after buying an additional 417,312 shares during the last quarter. Franklin Resources Inc. grew its position in Crescent Capital BDC by 7.0% in the third quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock worth $7,707,000 after acquiring an additional 35,534 shares during the period. Ares Management LLC increased its stake in 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 during the last quarter. Bulldog Investors LLP raised its position in Crescent Capital BDC by 50.7% in 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 period. Finally, Almitas Capital LLC lifted its stake in shares of Crescent Capital BDC by 8.2% in the 3rd 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 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 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.