Keefe, Bruyette & Woods Issues Pessimistic Forecast for Crescent Capital BDC (NASDAQ:CCAP) Stock Price

Crescent Capital BDC (NASDAQ:CCAP) had its price objective decreased by equities research analysts at Keefe, Bruyette & Woods from $15.50 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 10.46% from the stock’s previous close.

Several other research firms have also issued reports on CCAP. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Wells Fargo & Company reduced their target price on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Finally, B. Riley Financial assumed coverage on Crescent Capital BDC in a report on Monday, March 30th. They set a “neutral” rating and a $13.50 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Crescent Capital BDC Stock Up 1.6%

NASDAQ:CCAP opened at $13.58 on Thursday. Crescent Capital BDC has a 12-month low of $11.80 and a 12-month high of $17.02. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $502.05 million, a P/E ratio of 14.45 and a beta of 0.55. The stock’s fifty day simple moving average is $13.06 and its 200-day simple moving average is $13.85.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%.The business had revenue of $19.05 million for the quarter, compared to analyst estimates of $39.83 million. Equities research analysts expect that Crescent Capital BDC will post 2.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCAP. Royal Bank of Canada lifted its holdings in Crescent Capital BDC by 3.6% during the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after acquiring an additional 2,128 shares in the last quarter. XTX Topco Ltd bought a new position in Crescent Capital BDC during the second quarter worth about $165,000. Quantbot Technologies LP bought a new position in Crescent Capital BDC during the second quarter worth about $219,000. Invesco Ltd. raised its stake in shares of Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after purchasing an additional 9,180 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at about $286,000. 49.46% of the stock is currently owned by institutional investors.

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.