Crescent Capital BDC (NASDAQ:CCAP) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Crescent Capital BDC (NASDAQ:CCAP) announced its quarterly earnings data on Wednesday. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01), Zacks reports. Crescent Capital BDC had a return on equity of 9.71% and a net margin of 20.84%.The business had revenue of $41.35 million for the quarter, compared to analyst estimates of $42.35 million.

Crescent Capital BDC Price Performance

CCAP stock remained flat at $13.59 during mid-day trading on Friday. 50,209 shares of the company’s stock were exchanged, compared to its average volume of 193,321. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.22. The company’s fifty day moving average price is $14.55 and its 200 day moving average price is $14.86. Crescent Capital BDC has a 12 month low of $13.30 and a 12 month high of $20.19.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date is Wednesday, December 31st. Crescent Capital BDC’s dividend payout ratio is 140.00%.

Insider Activity

In other news, Director Raymond Barrios purchased 3,245 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was acquired at an average price of $15.63 per share, for a total transaction of $50,719.35. Following the acquisition, the director directly owned 19,177 shares of the company’s stock, valued at approximately $299,736.51. This represents a 20.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On Crescent Capital BDC

A number of institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC during the second quarter worth $165,000. Seven Mile Advisory acquired a new position in shares of Crescent Capital BDC in the 3rd quarter valued at $189,000. Quantbot Technologies LP purchased a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at about $219,000. Jump Financial LLC acquired a new stake in Crescent Capital BDC during the 2nd quarter worth approximately $286,000. Finally, Invesco Ltd. grew its stake in shares of Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after purchasing an additional 9,180 shares during the last quarter. 49.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCAP has been the subject of a number of research analyst reports. Zacks Research lowered shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Wells Fargo & Company dropped their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods reduced their price objective on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a research report on Friday. Finally, LADENBURG THALM/SH SH upgraded Crescent Capital BDC to a “strong-buy” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Crescent Capital BDC currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.