Crescent Capital BDC (NASDAQ:CCAP) Downgraded to "Sell" Rating by Wall Street Zen

Wall Street Zen lowered shares of Crescent Capital BDC (NASDAQ:CCAP - Free Report) from a hold rating to a sell rating in a report published on Thursday.

Several other analysts have also issued reports on CCAP. Raymond James lowered their target price on Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Wells Fargo & Company lowered their price objective on 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. Finally, Keefe, Bruyette & Woods downgraded shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $18.50 to $17.00 in a report on Friday, May 16th. One 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's stock. Based on data from MarketBeat, Crescent Capital BDC currently has a consensus rating of "Hold" and a consensus price target of $17.60.

Crescent Capital BDC Stock Performance

CCAP stock traded up $0.13 during mid-day trading on Thursday, hitting $15.52. The company had a trading volume of 76,481 shares, compared to its average volume of 139,239. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.26 and a current ratio of 1.32. The firm has a market cap of $575.17 million, a PE ratio of 7.80 and a beta of 0.63. Crescent Capital BDC has a 12 month low of $13.54 and a 12 month high of $20.19. The stock's fifty day moving average price is $15.98 and its two-hundred day moving average price is $17.97.

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

Crescent Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.82%. The ex-dividend date of this dividend is Monday, June 30th. Crescent Capital BDC's payout ratio is currently 125.37%.

Hedge Funds Weigh In On Crescent Capital BDC

Several hedge funds have recently made changes to their positions in CCAP. Montag A & Associates Inc. purchased a new stake in Crescent Capital BDC during the 4th quarter worth about $35,000. C M Bidwell & Associates Ltd. purchased a new position in Crescent Capital BDC during the 4th quarter valued at about $39,000. Aquatic Capital Management LLC bought a new stake in shares of Crescent Capital BDC during the fourth quarter valued at about $129,000. Generation Capital Management LLC purchased a new stake in shares of Crescent Capital BDC in the fourth quarter worth about $192,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Crescent Capital BDC in the fourth quarter worth about $218,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

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.