Crescent Capital BDC (NASDAQ:CCAP) Stock Rating Lowered by Zacks Research

Crescent Capital BDC (NASDAQ:CCAP) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. LADENBURG THALM/SH SH lowered their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a report on Friday. Keefe, Bruyette & Woods decreased their target price on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Oppenheimer lowered shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $19.00 to $16.00 in a report on Friday, May 15th. Finally, Wells Fargo & Company decreased their target price on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.30.

Crescent Capital BDC Stock Up 1.2%

Shares of NASDAQ CCAP opened at $11.21 on Monday. The company’s 50-day simple moving average is $12.85 and its 200-day simple moving average is $13.71. Crescent Capital BDC has a 52-week low of $10.92 and a 52-week high of $16.03. The firm has a market cap of $413.09 million, a price-to-earnings ratio of 27.34 and a beta of 0.59. 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of ($6.84) million for the quarter, compared to analyst estimates of $39.58 million. Equities analysts predict that Crescent Capital BDC will post 1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Capital BDC

A number of hedge funds have recently added to or reduced their stakes in the business. Cobblestone Capital Advisors LLC NY lifted its holdings in Crescent Capital BDC by 1.3% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 58,783 shares of the company’s stock worth $838,000 after buying an additional 741 shares in the last quarter. Ieq Capital LLC lifted its holdings in Crescent Capital BDC by 3.0% during the 4th quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock worth $358,000 after buying an additional 746 shares in the last quarter. Mariner LLC lifted its holdings in Crescent Capital BDC by 0.3% during the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after buying an additional 1,492 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Crescent Capital BDC during the 4th quarter worth approximately $27,000. Finally, LMG Wealth Partners LLC lifted its holdings in Crescent Capital BDC by 17.8% during the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after buying an additional 2,048 shares in 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.