Crescent Capital BDC (NASDAQ:CCAP) Stock Rating Lowered by Wall Street Zen

Crescent Capital BDC (NASDAQ:CCAP) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. LADENBURG THALM/SH SH dropped their price objective on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 15th. B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company decreased their price target on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Crescent Capital BDC presently has a consensus rating of “Hold” and a consensus price target of $13.90.

Crescent Capital BDC Stock Performance

NASDAQ CCAP opened at $10.84 on Friday. The firm has a 50-day moving average price of $11.18 and a two-hundred day moving average price of $12.65. Crescent Capital BDC has a 12-month low of $10.64 and a 12-month high of $16.03. The company has a market capitalization of $399.45 million, a P/E ratio of 26.44 and a beta of 0.52. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.35.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The company had revenue of ($6.83) million for the quarter, compared to analysts’ expectations of $39.58 million. Analysts anticipate that Crescent Capital BDC will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Crescent Capital BDC

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

Institutional Trading of Crescent Capital BDC

A number of hedge funds have recently made changes to their positions in CCAP. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Crescent Capital BDC during the fourth quarter worth about $27,000. Rockefeller Capital Management L.P. bought a new position in Crescent Capital BDC in the 4th quarter valued at approximately $35,000. VPR Management LLC boosted 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 buying an additional 3,000 shares during the period. Beaumont Financial Advisors LLC bought a new stake in Crescent Capital BDC during the 1st quarter worth approximately $127,000. Finally, Permanens Capital L.P. bought a new stake in Crescent Capital BDC during the 3rd quarter worth approximately $147,000. 49.46% of the stock is 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.