Crescent Capital BDC (NASDAQ:CCAP) Stock Moved Up to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Crescent Capital BDC (CCAP) from “sell” to “hold.” The broader analyst consensus is also “Hold,” with one Buy rating and six Hold ratings, and an average price target of $12.62.
• CCAP opened at $9.09, near its one-year low of $8.86 and below its 50-day and 200-day moving averages of $10.28 and $11.32, respectively. Recent analysts have generally lowered their price targets, ranging from $10.25 to $12.50.
• The company slightly missed quarterly earnings expectations, reporting $0.36 in EPS versus $0.37 forecast, while insiders sold 451,543 shares worth about $4.69 million over the past quarter.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on CCAP. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. B. Riley Financial dropped their price objective on shares of Crescent Capital BDC from $13.50 to $12.50 and set a "neutral" rating on the stock in a report on Wednesday, August 12th. Bank of America restated a "neutral" rating and set a $10.25 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Thursday, September 10th. Wells Fargo & Company reduced their target price on shares of Crescent Capital BDC from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, August 12th. Finally, Zacks Research upgraded shares of Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Crescent Capital BDC currently has an average rating of "Hold" and a consensus price target of $12.62.

Crescent Capital BDC Stock Performance

CCAP stock opened at $9.09 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. Crescent Capital BDC has a 1 year low of $8.86 and a 1 year high of $15.18. The company has a market cap of $334.97 million, a P/E ratio of -101.00 and a beta of 0.57. The stock's fifty day moving average price is $10.28 and its 200-day moving average price is $11.32.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million for the quarter, compared to analysts' expectations of $37.12 million. On average, equities analysts forecast that Crescent Capital BDC will post 1.49 earnings per share for the current year.

Insider Activity at Crescent Capital BDC

In related news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the completion of the transaction, the insider owned 3,680,307 shares in the company, valued at approximately $37,649,540.61. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 451,543 shares of company stock valued at $4,689,738 over the last quarter. 1.23% of the stock is currently owned by insiders.

Institutional Trading of Crescent Capital BDC

Several hedge funds have recently bought and sold shares of CCAP. Rockefeller Capital Management L.P. purchased a new position in shares of Crescent Capital BDC during the fourth quarter valued at about $35,000. Integrated Wealth Concepts LLC bought a new position in Crescent Capital BDC during the second quarter valued at approximately $60,000. Beacon Pointe Advisors LLC bought a new position in Crescent Capital BDC during the second quarter valued at approximately $111,000. Engineers Gate Manager LP purchased a new position in Crescent Capital BDC during the 2nd quarter valued at approximately $114,000. Finally, Beaumont Financial Advisors LLC purchased a new position in Crescent Capital BDC during the 1st quarter valued at approximately $127,000. Hedge funds and other institutional investors own 49.46% of the company's stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc NASDAQ: CCAP is a business development company that provides financing to middle-market companies. The company invests primarily in privately negotiated loans and other debt securities, with a focus on supporting businesses that may have limited access to traditional bank financing.

Crescent Capital BDC generally emphasizes senior secured loans, including first-lien and second-lien debt, while also making select investments in unsecured debt and equity securities.

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