Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) posted its earnings results on Monday. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08), FiscalAI reports. The business had revenue of $36.89 million during the quarter, compared to analyst estimates of $36.37 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%.
Crescent Capital BDC Stock Performance
CCAP traded down $0.14 on Monday, hitting $9.24. The company had a trading volume of 214,869 shares, compared to its average volume of 229,792. The stock has a market cap of $340.46 million, a price-to-earnings ratio of -102.67 and a beta of 0.56. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The company’s fifty day moving average price is $9.45 and its 200 day moving average price is $11.56. Crescent Capital BDC has a 1-year low of $8.40 and a 1-year high of $15.18.
Analyst Ratings Changes
Several brokerages have recently commented on CCAP. Raymond James Financial set a $10.00 price target on shares of Crescent Capital BDC in a report on Thursday, October 22nd. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. LADENBURG THALM/SH SH decreased their price objective on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Bank of America downgraded shares of Crescent Capital BDC from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $10.25 in a research report on Thursday, September 10th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.25.
View Our Latest Report on Crescent Capital BDC
Insider Buying and Selling
In other Crescent Capital BDC news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the transaction, the insider owned 3,680,307 shares in the company, valued at $37,649,540.61. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 451,543 shares of company stock worth $4,689,738 in the last 90 days. Company insiders own 1.23% of the company’s stock.
Crescent Capital BDC Company Profile
Crescent Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.
Its investment portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments and selected equity interests. Crescent Capital BDC generally works with established companies across a range of industries, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.
The company is externally managed by Crescent Cap Advisors LLC, an affiliate of Crescent Capital Group LP, an investment firm specializing in credit and alternative investments.
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