Crescent Capital BDC, Inc. (NASDAQ:CCAP) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts maintain a cautious outlook: Crescent Capital BDC has a consensus “Hold” rating from seven analysts—six holds and one buy—with an average 12-month price target of $12.62. Several firms recently lowered their targets.
• Shares have weakened: CCAP opened at $9.17, near its 52-week low of $9.10, and trades below both its 50-day and 200-day moving averages. The company also narrowly missed quarterly EPS estimates, reporting $0.36 versus $0.37 expected.
• High dividend yield but insider selling: The company declared a quarterly dividend of $0.34 per share, equivalent to a 14.8% annualized yield. Insiders sold 451,543 shares worth approximately $4.69 million over the past three months, while institutional investors own 49.46% of the stock.

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven research firms that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $12.62.

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 12th. B. Riley Financial lowered 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 report on Wednesday, August 12th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. 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. Finally, Wall Street Zen downgraded shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Saturday, July 25th.

Insider Activity

In other news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total value of $1,422,522.42. Following the transaction, the insider directly owned 3,680,307 shares of the company's stock, valued at $37,649,540.61. The trade was a 3.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 in the last three months. Insiders own 1.23% of the company's stock.

Hedge Funds Weigh In On Crescent Capital BDC

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

Crescent Capital BDC Trading Down 0.1%

CCAP stock opened at $9.17 on Friday. Crescent Capital BDC has a 1-year low of $9.10 and a 1-year high of $15.18. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The business's 50 day moving average is $10.51 and its 200-day moving average is $11.48. The firm has a market cap of $337.91 million, a P/E ratio of -101.89 and a beta of 0.57.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. Equities analysts anticipate that Crescent Capital BDC will post 1.49 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 14.8%. Crescent Capital BDC's dividend payout ratio (DPR) is presently -1,511.11%.

About Crescent Capital BDC

Crescent Capital BDC, Inc NASDAQ: CCAP is a business development company that provides financing to privately owned, primarily middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in debt and equity securities.

Crescent Capital BDC generally focuses on senior secured loans, subordinated debt and other credit investments. Its portfolio companies operate across a range of industries, and the company may provide financing for acquisitions, recapitalizations, refinancing transactions, growth initiatives and other corporate purposes.

The company is externally managed by Crescent Capital Group LP, an investment management firm specializing in credit and private capital strategies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.