Crescent Capital BDC (NASDAQ:CCAP) Given “Market Perform” Rating at Oppenheimer

Crescent Capital BDC (NASDAQ:CCAP)‘s stock had its “market perform” rating reissued by investment analysts at Oppenheimer in a research report issued on Friday, Marketbeat reports.

CCAP has been the topic of several other reports. Keefe, Bruyette & Woods lowered their price target on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company lowered their target price on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, B. Riley Financial restated a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.70.

Crescent Capital BDC Stock Performance

Shares of CCAP stock traded down $0.66 during trading hours on Friday, reaching $11.33. The company had a trading volume of 84,960 shares, compared to its average volume of 199,882. The business has a fifty day moving average price of $12.98 and a 200-day moving average price of $13.78. Crescent Capital BDC has a one year low of $11.47 and a one year high of $16.03. The firm has a market cap of $418.87 million, a PE ratio of 27.80 and a beta of 0.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.22 and a current ratio of 1.22.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.20%. The company had revenue of ($6.84) million for the quarter, compared to the consensus estimate of $39.58 million. Sell-side analysts predict that Crescent Capital BDC will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after buying an additional 2,128 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Crescent Capital BDC during the 2nd quarter valued at about $165,000. Quantbot Technologies LP bought a new position in shares of Crescent Capital BDC during the 2nd quarter valued at approximately $219,000. Invesco Ltd. increased its holdings in Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after acquiring an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Crescent Capital BDC in the 2nd quarter worth approximately $286,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

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.