Crescent Capital BDC (NASDAQ:CCAP) Now Covered by B. Riley Financial

B. Riley Financial began coverage on shares of Crescent Capital BDC (NASDAQ:CCAP) in a report released on Monday morning, Marketbeat reports. The firm issued a neutral rating and a $13.50 target price on the stock.

A number of other research analysts have also issued reports on CCAP. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Wells Fargo & Company cut their price target on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Finally, Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.60.

Crescent Capital BDC Trading Up 0.8%

Shares of Crescent Capital BDC stock opened at $12.41 on Monday. The firm has a 50-day moving average of $13.54 and a 200-day moving average of $14.10. The stock has a market cap of $458.18 million, a PE ratio of 13.20 and a beta of 0.57. Crescent Capital BDC has a 52-week low of $12.27 and a 52-week high of $17.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.22 and a current ratio of 1.22.

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

Crescent Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 13.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is 178.72%.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Crescent Capital BDC in the 4th quarter valued at $27,000. Rockefeller Capital Management L.P. bought a new stake in shares of Crescent Capital BDC during the 4th quarter worth $35,000. VPR Management LLC lifted its position in shares of Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after buying an additional 3,000 shares during the last quarter. Westbourne Investments Inc. acquired a new stake in Crescent Capital BDC in the third quarter valued at about $141,000. Finally, Permanens Capital L.P. acquired a new stake in Crescent Capital BDC in the third quarter valued at about $147,000. 49.46% of the stock is currently owned by institutional investors.

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.