Crescent Capital BDC (NASDAQ:CCAP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Crescent Capital BDC (NASDAQ:CCAP) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. Bank of America reaffirmed a “neutral” rating and set a $10.25 price target (down from $13.00) on shares of Crescent Capital BDC in a research report on Thursday, September 10th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. LADENBURG THALM/SH SH dropped their price target on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, B. Riley Financial dropped their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Crescent Capital BDC presently has a consensus rating of “Hold” and a consensus target price of $12.62.

Crescent Capital BDC Stock Up 0.6%

CCAP stock opened at $9.14 on Friday. The stock has a market capitalization of $336.81 million, a PE ratio of -101.56 and a beta of 0.57. Crescent Capital BDC has a 52 week low of $8.86 and a 52 week high of $15.18. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. The firm has a 50 day moving average of $10.24 and a 200 day moving average of $11.29.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $5.12 million for the quarter, compared to analyst estimates of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Sell-side analysts forecast that Crescent Capital BDC will post 1.49 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 14.9%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Insider Transactions at Crescent Capital BDC

In other Crescent Capital BDC news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the completion of the sale, the insider directly owned 3,680,307 shares in the company, valued at approximately $37,649,540.61. The trade was a 3.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 451,543 shares of company stock worth $4,689,738. Company insiders own 1.23% of the company’s stock.

Institutional Trading of Crescent Capital BDC

Large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. acquired a new position in shares of Crescent Capital BDC in the 4th quarter valued at about $35,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Crescent Capital BDC in the second quarter worth about $60,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Crescent Capital BDC in the second quarter worth about $111,000. Engineers Gate Manager LP acquired a new stake in Crescent Capital BDC during the second quarter worth about $114,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in Crescent Capital BDC during the first quarter worth about $127,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

About Crescent Capital BDC

Crescent Capital BDC, Inc (NASDAQ: CCAP) is a business development company that provides financing to middle-market companies. The company invests primarily in privately negotiated loans and other debt securities, with a focus on supporting businesses that may have limited access to traditional bank financing.

Crescent Capital BDC generally emphasizes senior secured loans, including first-lien and second-lien debt, while also making select investments in unsecured debt and equity securities.