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

Key Points

• Crescent Capital BDC has a consensus analyst rating of "Hold" from six brokerages, with an average 12-month price target of $14.30.
• The company reported Q1 earnings of $0.42 per share, slightly beating estimates, but revenue came in well below expectations at -$6.84 million versus forecasts for positive revenue.
• Crescent Capital BDC announced a special dividend of $0.03 per share, while insiders recently bought shares, including the CEO and president, signaling some confidence in the stock.

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) has been given a consensus recommendation of "Hold" by the six brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $14.30.

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Zacks Research lowered Crescent Capital BDC from a "hold" rating to a "strong sell" rating in a research report on Monday, May 18th. Keefe, Bruyette & Woods lowered their price objective on shares of Crescent Capital BDC from $15.50 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, April 16th. B. Riley Financial restated a "neutral" rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Finally, LADENBURG THALM/SH SH dropped their price target on Crescent Capital BDC from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, May 15th.

Crescent Capital BDC Stock Down 0.3%

Shares of NASDAQ:CCAP opened at $11.41 on Friday. The stock has a fifty day simple moving average of $12.61 and a two-hundred day simple moving average of $13.56. The stock has a market capitalization of $420.46 million, a price-to-earnings ratio of 27.83 and a beta of 0.59. Crescent Capital BDC has a 12-month low of $10.92 and a 12-month high of $16.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35.

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

Crescent Capital BDC Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.03 per share. This represents a yield of 107.0%. The ex-dividend date of this dividend is Monday, November 30th. Crescent Capital BDC's dividend payout ratio is currently 409.76%.

Insiders Place Their Bets

In other Crescent Capital BDC news, President Henry Chung acquired 4,500 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was purchased at an average price of $11.45 per share, with a total value of $51,525.00. Following the transaction, the president directly owned 20,722 shares in the company, valued at approximately $237,266.90. The trade was a 27.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason Breaux bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost 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 in the company, valued at $588,996.84. This trade represents 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

A number of institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Crescent Capital BDC during the 4th quarter valued at about $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of Crescent Capital BDC during the 4th quarter valued at about $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 valued at $71,000 after buying an additional 3,000 shares in the last quarter. Beaumont Financial Advisors LLC purchased a new position in shares of Crescent Capital BDC during the 1st quarter valued at about $127,000. Finally, Westbourne Investments Inc. purchased a new position in shares of Crescent Capital BDC during the 3rd quarter valued at about $141,000. 49.46% of the stock is 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.

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