Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Consensus Recommendation of “Hold” by Analysts

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has earned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.30.

A number of research firms have recently commented on CCAP. LADENBURG THALM/SH SH dropped their target price on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 15th. Keefe, Bruyette & Woods dropped their target price on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Wells Fargo & Company dropped their target price on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Zacks Research cut shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th.

Crescent Capital BDC Stock Down 3.6%

CCAP stock opened at $11.22 on Friday. The stock has a market capitalization of $413.46 million, a P/E ratio of 27.37 and a beta of 0.52. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35. Crescent Capital BDC has a 12 month low of $10.92 and a 12 month high of $16.03. The firm has a 50-day moving average price of $12.53 and a 200-day moving average price of $13.50.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of ($6.84) 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%. As a group, equities research analysts anticipate that Crescent Capital BDC will post 1.38 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a dividend yield of 107.0%. Crescent Capital BDC’s dividend payout ratio is currently 409.76%.

Insider Activity at Crescent Capital BDC

In other news, CEO Jason Breaux acquired 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $11.19 per share, with a total value of $55,950.00. Following the completion of the purchase, the chief executive officer directly owned 52,636 shares of the company’s stock, valued at $588,996.84. This represents a 10.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Henry Chung acquired 4,500 shares of the stock in a transaction dated Thursday, May 21st. The stock was purchased at an average cost of $11.45 per share, with a total value of $51,525.00. Following the purchase, the president directly owned 20,722 shares of the company’s stock, valued at $237,266.90. This trade represents a 27.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCAP. Royal Bank of Canada increased its stake in shares of Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after buying an additional 2,128 shares during the period. XTX Topco Ltd acquired a new position in shares of Crescent Capital BDC in the second quarter valued at approximately $165,000. Quantbot Technologies LP acquired a new position in shares of Crescent Capital BDC in the second quarter valued at approximately $219,000. Invesco Ltd. increased its stake in shares of Crescent Capital BDC by 31.4% in the second quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after buying an additional 9,180 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Crescent Capital BDC in the second quarter valued at approximately $286,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

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.