Crescent Capital BDC (NASDAQ:CCAP) Upgraded by Zacks Research to Hold Rating

Crescent Capital BDC (NASDAQ:CCAP) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

CCAP has been the topic of several other reports. Keefe, Bruyette & Woods decreased their target price on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a report on Friday, November 14th. Oppenheimer reduced their price target on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP opened at $14.36 on Tuesday. The business has a fifty day moving average price of $14.52 and a two-hundred day moving average price of $14.57. The stock has a market capitalization of $531.22 million, a PE ratio of 14.65 and a beta of 0.55. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20. Crescent Capital BDC has a fifty-two week low of $13.03 and a fifty-two week high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.The company had revenue of $41.35 million during the quarter, compared to the consensus estimate of $42.35 million. As a group, equities analysts predict 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 institutional investors have recently added to or reduced their stakes in the stock. Cobblestone Capital Advisors LLC NY boosted its position in Crescent Capital BDC by 1.3% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 58,783 shares of the company’s stock valued at $838,000 after buying an additional 741 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth $27,000. Royal Bank of Canada lifted its stake in shares of Crescent Capital BDC by 3.6% in the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after acquiring an additional 2,128 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Crescent Capital BDC by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 137,997 shares of the company’s stock valued at $1,968,000 after acquiring an additional 2,314 shares in the last quarter. Finally, VPR Management LLC grew its position in Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the last quarter. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Company Profile

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.