Crescent Capital BDC (NASDAQ:CCAP) Trading Down 3.5% - Here's What Happened

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report)'s share price dropped 3.5% during trading on Monday . The stock traded as low as $14.30 and last traded at $14.28. Approximately 177,865 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 140,008 shares. The stock had previously closed at $14.80.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CCAP shares. Wells Fargo & Company lowered their price target on Crescent Capital BDC from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered Crescent Capital BDC from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods downgraded Crescent Capital BDC from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $18.50 to $17.00 in a report on Friday, May 16th. Finally, Raymond James Financial reduced their price target on shares of Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Crescent Capital BDC has a consensus rating of "Hold" and an average price target of $17.60.

Crescent Capital BDC Trading Up 0.8%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The firm's fifty day moving average is $15.41 and its 200 day moving average is $17.46.

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). The business had revenue of $42.13 million during the quarter, compared to analyst estimates of $45.08 million. Crescent Capital BDC had a net margin of 26.20% and a return on equity of 11.10%. On average, research analysts expect that Crescent Capital BDC, Inc. will post 2.09 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 11.63%. The ex-dividend date is Monday, June 30th. Crescent Capital BDC's dividend payout ratio (DPR) is currently 125.37%.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds have recently modified their holdings of CCAP. Montag A & Associates Inc. bought a new position in Crescent Capital BDC during the fourth quarter worth $35,000. C M Bidwell & Associates Ltd. acquired a new stake in Crescent Capital BDC in the 4th quarter worth $39,000. Aquatic Capital Management LLC bought a new position in shares of Crescent Capital BDC during the 4th quarter worth about $129,000. Generation Capital Management LLC bought a new position in shares of Crescent Capital BDC during the 4th quarter worth about $192,000. Finally, First Affirmative Financial Network acquired a new position in shares of Crescent Capital BDC during the first quarter valued at about $199,000. 49.46% of the stock is owned by institutional investors.

Crescent Capital BDC Company Profile

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.