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

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.3750.

CCAP has been the subject of several research analyst reports. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Oppenheimer dropped their price target on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Keefe, Bruyette & Woods decreased their price objective on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a research report on Friday, November 14th. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, 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 on the stock in a research note on Friday, November 14th.

Institutional Trading of Crescent Capital BDC

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in Crescent Capital BDC by 3.6% in the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after buying an additional 2,128 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Crescent Capital BDC in the second quarter worth $69,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Crescent Capital BDC by 36.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 110,423 shares of the company’s stock worth $1,557,000 after purchasing an additional 29,657 shares during the last quarter. Muzinich & Co. Inc. boosted its holdings in Crescent Capital BDC by 36.7% during the second quarter. Muzinich & Co. Inc. now owns 110,423 shares of the company’s stock worth $1,557,000 after purchasing an additional 29,657 shares during the last quarter. Finally, Condor Capital Management grew its position in Crescent Capital BDC by 4.9% in the second quarter. Condor Capital Management now owns 307,738 shares of the company’s stock valued at $4,339,000 after purchasing an additional 14,449 shares in the last quarter. 49.46% of the stock is currently owned by institutional investors.

Crescent Capital BDC Stock Performance

Shares of NASDAQ:CCAP opened at $13.77 on Thursday. The firm’s 50 day simple moving average is $14.43 and its 200 day simple moving average is $14.55. Crescent Capital BDC has a fifty-two week low of $13.03 and a fifty-two week high of $20.04. The company has a market capitalization of $509.35 million, a price-to-earnings ratio of 14.05 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.

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.