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

Key Points

• Crescent Capital BDC has a consensus analyst rating of "Hold" from six brokerages, with an average 1-year price target of $13.90.
• The company recently reported Q1 earnings of $0.42 per share, slightly topping estimates, while revenue came in below expectations. Analysts currently forecast 1.38 EPS for the full fiscal year.
• Insiders have been buying shares: CEO Jason Breaux and President Henry Chung both made recent purchases, even as the stock trades near its 12-month low and the company announced a special dividend.

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) have been given a consensus rating of "Hold" by the six brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.90.

A number of analysts have recently commented on CCAP shares. Wall Street Zen lowered shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Oppenheimer lowered shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. Wells Fargo & Company cut their price objective on shares of Crescent Capital BDC from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Friday, May 15th. Zacks Research lowered shares of Crescent Capital BDC from a "hold" rating to a "strong sell" rating in a research report on Monday, May 18th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Crescent Capital BDC from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 16th.

Crescent Capital BDC Stock Performance

Shares of CCAP opened at $11.27 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. Crescent Capital BDC has a twelve month low of $10.92 and a twelve month high of $16.03. The firm's 50 day moving average price is $12.18 and its two-hundred day moving average price is $13.24. The firm has a market cap of $415.25 million, a P/E ratio of 27.49 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.01. The firm had revenue of ($6.84) million for the quarter, compared to analyst estimates of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. On average, analysts forecast that Crescent Capital BDC will post 1.38 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $0.03 dividend. This represents a dividend yield of 107.0%. The ex-dividend date of this dividend is Monday, November 30th. Crescent Capital BDC's payout ratio is currently 331.71%.

Insiders Place Their Bets

In other news, President Henry Chung bought 4,500 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the acquisition, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This represents a 27.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason Breaux bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the acquisition, the chief executive officer owned 52,636 shares of the company's stock, valued at $588,996.84. The trade was a 10.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.23% of the company's stock.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in Crescent Capital BDC during the fourth quarter worth $27,000. Rockefeller Capital Management L.P. acquired a new position in Crescent Capital BDC during the fourth quarter worth $35,000. VPR Management LLC increased its holdings in Crescent Capital BDC by 150.0% during the third 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. Beaumont Financial Advisors LLC acquired a new position in Crescent Capital BDC during the first quarter worth $127,000. Finally, Permanens Capital L.P. acquired a new position in Crescent Capital BDC during the third quarter worth $147,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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.