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

Key Points

• Wall Street Zen downgraded Crescent Capital BDC (NASDAQ:CCAP) from a “hold” to a “sell” rating, adding to a mixed analyst backdrop for the stock. MarketBeat says the overall consensus remains “hold,” with an average price target of $13.90.
• The stock traded near its 52-week low, opening at $10.84 versus a 52-week range of $10.64 to $16.03. The shares also sit below both the 50-day moving average of $11.18 and the 200-day moving average of $12.66.
• Insiders bought shares recently, with CEO Jason Breaux and President Henry Chung both making stock purchases in May. Those buys increased their holdings by 10.50% and 27.74%, respectively.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

CCAP has been the subject of several other research reports. LADENBURG THALM/SH SH decreased their price objective on Crescent Capital BDC from $16.00 to $15.00 and set a "buy" rating for the company in a report on Friday, May 15th. Oppenheimer downgraded Crescent Capital BDC from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. Keefe, Bruyette & Woods dropped their target price on Crescent Capital BDC from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 16th. Zacks Research raised Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price target on Crescent Capital BDC from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $13.90.

Crescent Capital BDC Stock Up 0.6%

Shares of Crescent Capital BDC stock opened at $10.84 on Friday. The firm's 50 day moving average price is $11.18 and its 200-day moving average price is $12.66. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.35. Crescent Capital BDC has a 52-week low of $10.64 and a 52-week high of $16.03. The company has a market cap of $399.45 million, a P/E ratio of 26.44 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.01. The company had revenue of ($6.83) million during the quarter, compared to analysts' expectations of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. On average, sell-side analysts predict that Crescent Capital BDC will post 1.38 EPS for the current fiscal year.

Insider Transactions at Crescent Capital BDC

In other news, CEO Jason Breaux bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $11.19 per share, with a total value of $55,950.00. Following the completion of the acquisition, the chief executive officer directly owned 52,636 shares of the company's stock, valued at $588,996.84. This trade represents a 10.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Henry Chung bought 4,500 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the transaction, the president owned 20,722 shares of the company's stock, 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 currently owned by corporate insiders.

Institutional Trading of Crescent Capital BDC

Several institutional investors and hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC boosted its holdings in shares of Crescent Capital BDC by 9.9% in the 2nd quarter. Confluence Investment Management LLC now owns 35,410 shares of the company's stock valued at $387,000 after acquiring an additional 3,187 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Crescent Capital BDC by 4.6% during the first quarter. Bank of America Corp DE now owns 59,551 shares of the company's stock worth $724,000 after purchasing an additional 2,628 shares during the last quarter. Aspen Grove Capital LLC lifted its position in Crescent Capital BDC by 0.9% during the first quarter. Aspen Grove Capital LLC now owns 269,852 shares of the company's stock valued at $3,279,000 after purchasing an additional 2,434 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in Crescent Capital BDC by 206.1% in the first quarter. Catalyst Capital Advisors LLC now owns 15,000 shares of the company's stock valued at $182,000 after purchasing an additional 10,100 shares during the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new stake in Crescent Capital BDC in the first quarter valued at $127,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Capital BDC

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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