Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) had its price target dropped by research analysts at Wells Fargo & Company from $12.00 to $11.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 3.85% from the stock’s current price.
A number of other brokerages also recently weighed in on CCAP. B. Riley Financial reaffirmed a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods lowered their target price on Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, June 16th. Finally, LADENBURG THALM/SH SH dropped their price target on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crescent Capital BDC presently has a consensus rating of “Hold” and an average target price of $13.70.
View Our Latest Stock Analysis on Crescent Capital BDC
Crescent Capital BDC Stock Performance
Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Crescent Capital BDC had a positive return on equity of 8.88% and a negative net margin of 2.02%.The business had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. As a group, equities research analysts predict that Crescent Capital BDC will post 1.38 EPS for the current year.
Insider Transactions at Crescent Capital BDC
In other Crescent Capital BDC news, President Henry Chung purchased 4,500 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were bought at an average price of $11.45 per share, with a total value of $51,525.00. Following the completion of the acquisition, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This represents a 27.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason Breaux purchased 5,000 shares of the business’s stock in a transaction dated 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 acquisition, the chief executive officer owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. The trade was a 10.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.23% of the company’s stock.
Institutional Investors Weigh In On Crescent Capital BDC
Several institutional investors have recently bought and sold shares of CCAP. Fidelity National Financial Inc. acquired a new stake in shares of Crescent Capital BDC in the 2nd quarter worth approximately $45,922,000. Invesco Ltd. raised its holdings in Crescent Capital BDC by 1,504.9% during the fourth quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock worth $9,269,000 after purchasing an additional 618,590 shares in the last quarter. North Ground Capital raised its holdings in Crescent Capital BDC by 99.8% during the fourth quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after purchasing an additional 417,312 shares in the last quarter. Focus Partners Wealth acquired a new stake in Crescent Capital BDC in the fourth quarter worth approximately $5,476,000. Finally, Closed End Fund Advisors Inc. acquired a new stake in Crescent Capital BDC in the fourth quarter worth approximately $3,166,000. Institutional investors and hedge funds 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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