Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $19.17.

A number of analysts have commented on CCAP shares. LADENBURG THALM/SH SH started coverage on Crescent Capital BDC in a research report on Monday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th.

Institutional Trading of Crescent Capital BDC

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sun Life Financial Inc. grew its position in Crescent Capital BDC by 20.7% in the third quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock worth $41,187,000 after acquiring an additional 382,542 shares during the period. Millennium Management LLC grew its holdings in shares of Crescent Capital BDC by 31.9% during the 2nd quarter. Millennium Management LLC now owns 268,097 shares of the company’s stock worth $5,035,000 after purchasing an additional 64,902 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of Crescent Capital BDC during the 3rd quarter worth $4,878,000. Franklin Resources Inc. increased its position in shares of Crescent Capital BDC by 35.2% during the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock worth $4,726,000 after purchasing an additional 66,713 shares during the last quarter. Finally, Condor Capital Management raised its holdings in Crescent Capital BDC by 12.4% in the 2nd quarter. Condor Capital Management now owns 252,121 shares of the company’s stock valued at $4,735,000 after buying an additional 27,801 shares during the period. Institutional investors and hedge funds own 49.46% of the company’s stock.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock opened at $18.82 on Wednesday. Crescent Capital BDC has a 52 week low of $15.91 and a 52 week high of $20.03. The company has a 50 day moving average price of $19.15 and a 200 day moving average price of $18.76. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $697.51 million, a P/E ratio of 7.38 and a beta of 0.81.

Crescent Capital BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. This represents a $1.68 dividend on an annualized basis and a yield of 8.93%. Crescent Capital BDC’s payout ratio is 65.88%.

Crescent Capital BDC Company Profile

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.