Crescent Capital BDC (NASDAQ:CCAP) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Crescent Capital BDC (NASDAQ:CCAP) from a sell rating to a hold rating in a research note published on Saturday.

Several other research firms have also weighed in on CCAP. Keefe, Bruyette & Woods lowered their price objective on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a research report on Friday, November 14th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Oppenheimer reduced their target price on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, November 14th. Finally, Wells Fargo & Company reduced their target price on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.38.

Crescent Capital BDC Stock Up 0.9%

Shares of NASDAQ CCAP opened at $14.49 on Friday. The firm has a market cap of $535.99 million, a PE ratio of 14.79 and a beta of 0.54. The company has a 50 day simple moving average of $14.31 and a 200 day simple moving average of $14.57. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20. Crescent Capital BDC has a 1 year low of $13.03 and a 1 year high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.The business had revenue of $41.35 million during the quarter, compared to the consensus estimate of $42.35 million. On average, research analysts forecast that Crescent Capital BDC will post 2.09 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.68 annualized dividend and a yield of 11.6%. Crescent Capital BDC’s payout ratio is 171.43%.

Hedge Funds Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Global Management LLC purchased a new stake in Crescent Capital BDC during the third quarter valued at about $3,137,000. Icon Advisers Inc. Co. lifted its stake in shares of Crescent Capital BDC by 91.2% in the 3rd quarter. Icon Advisers Inc. Co. now owns 133,816 shares of the company’s stock valued at $1,908,000 after acquiring an additional 63,843 shares during the last quarter. VPR Management LLC boosted its holdings in Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares during the period. Permanens Capital L.P. bought a new position in Crescent Capital BDC during the 3rd quarter worth approximately $147,000. Finally, Millennium Management LLC increased its stake in Crescent Capital BDC by 78.7% in the 3rd quarter. Millennium Management LLC now owns 202,054 shares of the company’s stock worth $2,881,000 after purchasing an additional 88,966 shares during the period. Institutional investors 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.