Crescent Capital BDC (NASDAQ:CCAP) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Crescent Capital BDC (NASDAQ:CCAP) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. B. Riley Financial restated a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday. Wells Fargo & Company cut their target price on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday. Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday. Keefe, Bruyette & Woods decreased their target price on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Finally, LADENBURG THALM/SH SH decreased their target price on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.30.

Crescent Capital BDC Trading Up 1.2%

NASDAQ:CCAP opened at $11.21 on Monday. The stock has a market capitalization of $413.09 million, a PE ratio of 27.34 and a beta of 0.59. The business’s 50-day simple moving average is $12.85 and its 200-day simple moving average is $13.71. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53. Crescent Capital BDC has a fifty-two week low of $10.92 and a fifty-two week high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last released its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of ($6.84) million for the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%. Sell-side analysts expect that Crescent Capital BDC will post 1.39 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.03 dividend. This represents a yield of 107.0%. The ex-dividend date is Monday, November 30th. Crescent Capital BDC’s dividend payout ratio is 409.76%.

Institutional Investors Weigh In On Crescent Capital BDC

A number of large investors have recently added to or reduced their stakes in the business. North Ground Capital raised its stake in Crescent Capital BDC by 99.8% in the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock valued at $11,736,000 after acquiring an additional 417,312 shares during the period. Invesco Ltd. raised its stake in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after acquiring an additional 618,590 shares during the period. Franklin Resources Inc. raised its stake in Crescent Capital BDC by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after acquiring an additional 35,534 shares during the period. Bulldog Investors LLP raised its stake in Crescent Capital BDC by 4.6% in the 4th quarter. Bulldog Investors LLP now owns 457,518 shares of the company’s stock valued at $6,428,000 after acquiring an additional 20,000 shares during the period. Finally, Mariner LLC raised 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 valued at $6,369,000 after acquiring an additional 1,492 shares during the period. 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.