Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Average Recommendation of "Hold" by Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) have earned a consensus rating of "Hold" from the six research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.10.

Several research analysts have weighed in on CCAP shares. Zacks Research upgraded Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. B. Riley Financial decreased their target price on shares of Crescent Capital BDC from $13.50 to $12.50 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Finally, Oppenheimer downgraded Crescent Capital BDC from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $19.00 to $16.00 in a research note on Friday, May 15th.

Insider Activity at Crescent Capital BDC

In related news, major shareholder & Guaranty Life Insur Fidelity sold 45,000 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $10.44, for a total value of $469,800.00. Following the sale, the insider owned 3,961,279 shares of the company's stock, valued at $41,355,752.76. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Henry Chung acquired 2,500 shares of Crescent Capital BDC stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the purchase, the president owned 23,917 shares of the company's stock, valued at $260,456.13. The trade was a 11.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 170,571 shares of company stock valued at $1,800,524. Corporate insiders own 1.23% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $27,000. Rockefeller Capital Management L.P. acquired a new position in shares of Crescent Capital BDC in the fourth quarter worth approximately $35,000. VPR Management LLC lifted its stake in shares of Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company's stock worth $71,000 after acquiring an additional 3,000 shares during the period. Beacon Pointe Advisors LLC bought a new stake in Crescent Capital BDC in the second quarter valued at approximately $111,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in Crescent Capital BDC during the 1st quarter valued at approximately $127,000. 49.46% of the stock is owned by institutional investors and hedge funds.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock opened at $10.37 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The business has a fifty day simple moving average of $10.98 and a two-hundred day simple moving average of $11.93. Crescent Capital BDC has a 1 year low of $10.26 and a 1 year high of $16.03. The company has a market capitalization of $382.13 million, a price-to-earnings ratio of -115.22 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Research analysts forecast that Crescent Capital BDC will post 1.51 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 13.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC's payout ratio is presently -1,511.11%.

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.

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