Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $13.90 Average Price Target from Brokerages

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.90.

A number of equities analysts have recently commented on the company. B. Riley Financial reaffirmed a “neutral” rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. Keefe, Bruyette & Woods cut their target price on Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. Finally, LADENBURG THALM/SH SH reduced their target price on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 15th.

Crescent Capital BDC Stock Up 1.0%

CCAP opened at $11.07 on Friday. The company has a 50 day moving average of $11.25 and a 200 day moving average of $12.72. The company has a market cap of $407.93 million, a PE ratio of 27.00 and a beta of 0.52. Crescent Capital BDC has a 12 month low of $10.77 and a 12 month high of $16.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The business had revenue of ($6.83) million during the quarter, compared to analyst estimates of $39.58 million. On average, sell-side analysts expect that Crescent Capital BDC will post 1.38 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $0.03 dividend. This represents a dividend yield of 107.0%. The ex-dividend date is Monday, November 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is 331.71%.

Insider Activity at Crescent Capital BDC

In other news, President Henry Chung bought 4,500 shares of the stock in a transaction on Thursday, May 21st. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the purchase, the president directly owned 20,722 shares of the company’s stock, valued at $237,266.90. This trade represents a 27.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Breaux bought 5,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the purchase, the chief executive officer directly owned 52,636 shares in the company, valued at approximately $588,996.84. This represents a 10.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCAP. ICG Advisors LLC purchased a new stake in shares of Crescent Capital BDC in the fourth quarter worth $1,284,000. Riverbridge Partners LLC purchased a new position in Crescent Capital BDC during the fourth quarter worth about $1,326,000. Closed End Fund Advisors Inc. purchased a new position in Crescent Capital BDC during the fourth quarter worth about $3,166,000. Adams Asset Advisors LLC increased its stake in Crescent Capital BDC by 352.6% in the 4th quarter. Adams Asset Advisors LLC now owns 79,828 shares of the company’s stock worth $1,122,000 after acquiring an additional 62,189 shares during the last quarter. Finally, Alpine Global Management LLC raised its holdings in shares of Crescent Capital BDC by 82.6% in the 4th quarter. Alpine Global Management LLC now owns 401,756 shares of the company’s stock valued at $5,645,000 after acquiring an additional 181,756 shares in the last quarter. 49.46% of the stock is currently owned by hedge funds and other 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.