Crescent Capital BDC (NASDAQ:CCAP) Given New $13.00 Price Target at Keefe, Bruyette & Woods

Crescent Capital BDC (NASDAQ:CCAP) had its price target dropped by equities researchers at Keefe, Bruyette & Woods from $15.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 14.61% from the company’s previous close.

CCAP has been the topic of a number of other research reports. Oppenheimer downgraded Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. LADENBURG THALM/SH SH dropped their price objective on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Finally, Wells Fargo & Company dropped their price objective 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, May 15th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.90.

Crescent Capital BDC Price Performance

Shares of CCAP traded up $0.22 during midday trading on Tuesday, reaching $11.34. The stock had a trading volume of 139,449 shares, compared to its average volume of 212,692. Crescent Capital BDC has a 52 week low of $10.92 and a 52 week high of $16.03. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53. The firm’s 50 day moving average price is $12.33 and its 200-day moving average price is $13.37. The company has a market capitalization of $417.99 million, a P/E ratio of 27.69 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The company had revenue of ($6.84) million for the quarter, compared to the consensus estimate of $39.58 million. On average, analysts forecast that Crescent Capital BDC will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Henry Chung bought 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the acquisition, the president directly owned 20,722 shares of the company’s stock, valued at $237,266.90. The trade was a 27.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jason Breaux bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the acquisition, the chief executive officer directly owned 52,636 shares in the company, valued at approximately $588,996.84. The trade was a 10.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds have recently modified their holdings of CCAP. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC in the fourth quarter worth $27,000. Rockefeller Capital Management L.P. acquired a new stake in Crescent Capital BDC during the fourth quarter valued at $35,000. VPR Management LLC boosted its position in Crescent Capital BDC by 150.0% during the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new stake in Crescent Capital BDC during the first quarter valued at $127,000. Finally, Permanens Capital L.P. acquired a new stake in shares of Crescent Capital BDC in the third quarter worth about $147,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

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.