Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.
A number of other research analysts have also recently issued reports on CCAP. 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 report on Friday, May 15th. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Keefe, Bruyette & Woods lowered their price objective on 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. Wells Fargo & Company dropped their target price on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.90.
Check Out Our Latest Research Report on CCAP
Crescent Capital BDC Price Performance
Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates 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 ($6.83) million during the quarter, compared to analyst estimates of $39.58 million. Sell-side analysts anticipate that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.
Insider Buying and Selling at Crescent Capital BDC
In other Crescent Capital BDC news, President Henry Chung acquired 4,500 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were acquired at an average price of $11.45 per share, with a total value of $51,525.00. Following the completion of the transaction, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This trade represents a 27.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jason Breaux purchased 5,000 shares of Crescent Capital BDC stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $11.19 per share, with a total value of $55,950.00. Following the transaction, the chief executive officer owned 52,636 shares of the company’s stock, valued at $588,996.84. This trade represents a 10.50% increase in their position. The SEC filing for this purchase provides additional information. 1.23% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Crescent Capital BDC
Several institutional investors have recently bought and sold shares of CCAP. Ieq Capital LLC raised its stake in Crescent Capital BDC by 3.0% in the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after purchasing an additional 746 shares in the last quarter. Mariner LLC grew its stake in Crescent Capital BDC by 0.3% in 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. purchased a new position in Crescent Capital BDC in the 4th quarter worth approximately $27,000. LMG Wealth Partners LLC increased its holdings in shares of 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 buying an additional 2,048 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Crescent Capital BDC by 20.2% in the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after buying an additional 2,066 shares during the last quarter. Hedge funds and other 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.
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