Crescent Capital BDC (NASDAQ:CCAP) Price Target Lowered to $11.00 at Wells Fargo & Company

Key Points

• Wells Fargo lowered Crescent Capital BDC’s price target to $11 from $12 while maintaining an “equal weight” rating, implying 3.85% downside from the reported $11.44 share price.
• Analyst sentiment remains cautious: CCAP has a consensus “Hold” rating and an average price target of $13.70, with two Buy ratings and four Holds.
• The company reported quarterly EPS of $0.36, slightly below the $0.37 consensus estimate, while CEO Jason Breaux and President Henry Chung recently purchased shares worth roughly $56,000 and $52,000, respectively.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $12.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential downside of 3.85% from the company's current price.

A number of other research firms have also recently weighed in on CCAP. B. Riley Financial restated a "neutral" rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Wall Street Zen downgraded Crescent Capital BDC from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Zacks Research upgraded Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Oppenheimer downgraded Crescent Capital BDC from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. Finally, LADENBURG THALM/SH SH lowered their price objective on shares of 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. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $13.70.

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP opened at $11.44 on Wednesday. The firm has a market capitalization of $421.52 million, a P/E ratio of -127.11 and a beta of 0.52. Crescent Capital BDC has a one year low of $10.64 and a one year high of $16.03. The company's fifty day moving average is $11.16 and its two-hundred day moving average is $12.38. 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 (NASDAQ:CCAP - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share (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 8.88%. The company had revenue of $5.12 million during the quarter, compared to analysts' expectations of $37.12 million. Analysts forecast that Crescent Capital BDC will post 1.38 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Crescent Capital BDC

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Crescent Capital BDC by 3.6% during the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company's stock worth $1,056,000 after acquiring an additional 2,128 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Crescent Capital BDC in the second quarter worth $165,000. Quantbot Technologies LP acquired a new stake in Crescent Capital BDC in the second quarter valued at $219,000. Invesco Ltd. boosted its stake in Crescent Capital BDC by 31.4% during the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company's stock valued at $541,000 after acquiring an additional 9,180 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Crescent Capital BDC during the 2nd quarter worth $286,000. 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.

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