Crescent Capital BDC (NASDAQ:CCAP) Share Price Breaks Above 50 Day Moving Average - Here's What Happened

Key Points

• CCAP shares rose above their 50-day moving average, trading as high as $10.41 versus a 50-day average of $9.44.
• Third-quarter results beat estimates: net investment income was $0.37 per share and revenue was $36.89 million. However, earnings per share were down from $0.46 a year earlier.
• The company authorized a $50 million share repurchase and declared a $0.34 quarterly dividend. Analysts’ consensus rating is “Hold,” with an average price target of $12.25.

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $9.44 and traded as high as $10.41. Crescent Capital BDC shares last traded at $10.38, with a volume of 533,794 shares trading hands.

Key Crescent Capital BDC News

Here are the key news stories impacting Crescent Capital BDC this week:

• Positive Sentiment: CCAP reported third-quarter net investment income of $0.37 per share, beating the $0.35 consensus estimate; revenue of $36.89 million also topped expectations. The company reported NAV of $17.72 per share at quarter-end. Zacks earnings coverage
• Positive Sentiment: The company authorized a $50 million share repurchase program and declared a quarterly base dividend of $0.34 per share, equivalent to $1.36 annualized. Buybacks may support per-share value, while the dividend remains a notable income feature. Company earnings and capital return announcement
• Neutral Sentiment: Analysts’ average price target suggests potential upside, and the company is targeting completion of a joint venture in the fourth quarter of 2026. Price targets are estimates, and the JV remains prospective. Analyst price target coverage Joint venture and buyback coverage
• Negative Sentiment: Quarterly earnings of $0.37 per share were below the $0.46 reported a year earlier. A separate report noted direct lending for buyouts fell 60% year over year, raising concerns about deal activity and future growth. Motley Fool analysis

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CCAP shares. Wall Street Zen raised shares of Crescent Capital BDC from a "sell" rating to a "hold" rating in a research note on Saturday, October 10th. B. Riley Financial lowered their target price on shares of Crescent Capital BDC from $13.50 to $12.50 and set a "neutral" rating for the company in a research note on Wednesday, August 12th. Raymond James Financial set a $10.00 target price on shares of Crescent Capital BDC in a report on Thursday, October 22nd. LADENBURG THALM/SH SH cut their target price on shares of Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods cut shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $13.00 to $12.00 in a research report on Monday, August 17th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.25.

Crescent Capital BDC Price Performance

The company has a 50-day moving average of $9.44 and a 200-day moving average of $11.53. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $382.50 million, a price-to-earnings ratio of -1,038.00 and a beta of 0.56.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its earnings results on Monday, November 9th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $36.89 million for the quarter, compared to the consensus estimate of $36.37 million. Crescent Capital BDC had a negative net margin of 0.10% and a positive return on equity of 8.66%. As a group, research analysts anticipate that Crescent Capital BDC, Inc. will post 1.49 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.36 annualized dividend and a dividend yield of 13.1%. Crescent Capital BDC's dividend payout ratio is currently -1,511.11%.

Insider Activity at Crescent Capital BDC

In related news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total value of $1,422,522.42. Following the sale, the insider directly owned 3,680,307 shares of the company's stock, valued at approximately $37,649,540.61. The trade was a 3.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 451,543 shares of company stock worth $4,689,738 in the last quarter. Company insiders own 1.23% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. acquired a new stake in Crescent Capital BDC in the 4th quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new position in Crescent Capital BDC during the 2nd quarter worth approximately $60,000. Beacon Pointe Advisors LLC acquired a new position in Crescent Capital BDC during the 2nd quarter worth approximately $111,000. Engineers Gate Manager LP bought a new position in shares of Crescent Capital BDC during the 2nd quarter worth approximately $114,000. Finally, Beaumont Financial Advisors LLC bought a new position in shares of Crescent Capital BDC during the 1st quarter worth approximately $127,000. 49.46% of the stock is currently owned by institutional investors.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc. is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities. Its investment portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments and selected equity interests. Crescent Capital BDC generally works with established companies across a range of industries, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

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