Crescent Capital BDC (NASDAQ:CCAP) Rating Lowered to "Sell" at Wall Street Zen

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

Several other equities research analysts also recently commented on the company. Raymond James reduced their target price on Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Keefe, Bruyette & Woods cut shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $18.50 to $17.00 in a report on Friday, May 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Crescent Capital BDC from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.60.

Crescent Capital BDC Price Performance

Crescent Capital BDC stock traded down $0.06 during trading hours on Thursday, hitting $15.40. 33,549 shares of the company traded hands, compared to its average volume of 134,386. Crescent Capital BDC has a 1-year low of $13.54 and a 1-year high of $20.19. The firm has a market cap of $570.54 million, a P/E ratio of 7.73 and a beta of 0.63. The firm's 50-day simple moving average is $16.11 and its two-hundred day simple moving average is $18.02. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 1.18.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). Crescent Capital BDC had a net margin of 37.32% and a return on equity of 11.90%. The firm had revenue of $42.13 million for the quarter, compared to analyst estimates of $45.08 million. As a group, analysts forecast that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in Crescent Capital BDC by 12.8% in the fourth quarter. Franklin Resources Inc. now owns 289,131 shares of the company's stock valued at $5,557,000 after acquiring an additional 32,852 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Crescent Capital BDC in the 4th quarter valued at $3,750,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Crescent Capital BDC in the 4th quarter valued at $261,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Crescent Capital BDC during the fourth quarter worth $661,000. Finally, Van ECK Associates Corp increased its position in Crescent Capital BDC by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 45,562 shares of the company's stock worth $876,000 after buying an additional 1,006 shares during the last quarter. Institutional investors and hedge funds own 49.46% of the company's stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.

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