Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) had its target price cut by equities researchers at LADENBURG THALM/SH SH from $16.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. LADENBURG THALM/SH SH’s target price suggests a potential upside of 34.92% from the stock’s previous close.
Several other research firms have also recently issued reports on CCAP. Keefe, Bruyette & Woods lowered 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 research note on Thursday, April 16th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $19.00 to $16.00 in a research report on Friday. Wells Fargo & Company cut their target price on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a report on Friday. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.75.
View Our Latest Stock Analysis on CCAP
Crescent Capital BDC Stock Down 7.3%
Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of ($6.84) million during the quarter, compared to analyst estimates of $39.58 million. Crescent Capital BDC had a return on equity of 9.20% and a net margin of 9.26%. As a group, analysts predict that Crescent Capital BDC will post 1.63 EPS for the current year.
Institutional Trading of Crescent Capital BDC
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. North Ground Capital raised its stake in shares of Crescent Capital BDC by 99.8% in the fourth quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after buying an additional 417,312 shares during the period. Invesco Ltd. increased its holdings in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock worth $9,269,000 after acquiring an additional 618,590 shares in the last quarter. Franklin Resources Inc. raised its stake in Crescent Capital BDC by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock worth $7,707,000 after acquiring an additional 35,534 shares during the period. Bulldog Investors LLP lifted its holdings in Crescent Capital BDC by 4.6% during the fourth quarter. Bulldog Investors LLP now owns 457,518 shares of the company’s stock valued at $6,428,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Mariner LLC boosted its position in shares of Crescent Capital BDC by 0.3% in the fourth quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after purchasing an additional 1,492 shares during the period. Hedge funds and other institutional investors own 49.46% of the company’s stock.
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.
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