Crescent Capital BDC (NASDAQ:CCAP) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Crescent Capital BDC (NASDAQ:CCAP – Free Report) from a hold rating to a sell rating in a report released on Saturday.

A number of other equities analysts have also recently weighed in on the stock. LADENBURG THALM/SH SH reduced their price objective on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Oppenheimer lowered shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Keefe, Bruyette & Woods cut their target price on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, June 16th. B. Riley Financial restated a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Finally, Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.90.

Read Our Latest Stock Report on CCAP

Crescent Capital BDC Stock Up 0.8%

Crescent Capital BDC stock opened at $10.93 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market capitalization of $402.77 million, a PE ratio of 26.66 and a beta of 0.52. The business has a 50 day simple moving average of $11.18 and a 200-day simple moving average of $12.63. Crescent Capital BDC has a 12 month low of $10.64 and a 12 month high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The firm had revenue of ($6.83) million for the quarter, compared to analyst estimates of $39.58 million. On average, 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. Investors of record on Monday, November 30th will be paid a $0.03 dividend. This represents a yield of 107.0%. The ex-dividend date of this dividend is Monday, November 30th. Crescent Capital BDC’s dividend payout ratio is currently 331.71%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Crescent Capital BDC

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ieq Capital LLC boosted its position in Crescent Capital BDC by 3.0% during the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock worth $358,000 after acquiring an additional 746 shares during the last quarter. Mariner LLC raised its holdings in Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after acquiring an additional 1,492 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Crescent Capital BDC in the 4th quarter worth approximately $27,000. LMG Wealth Partners LLC lifted its stake in Crescent Capital BDC by 17.8% in the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after purchasing an additional 2,048 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Crescent Capital BDC by 20.2% during the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after purchasing an additional 2,066 shares during the last quarter. 49.46% of the stock is owned by hedge funds and other institutional investors.

About Crescent Capital BDC

(Get Free Report)

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.

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