Crescent Capital BDC (NASDAQ:CCAP) Shares Gap Down to $18.96

Crescent Capital BDC, Inc. (NASDAQ:CCAP)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $18.96, but opened at $18.52. Crescent Capital BDC shares last traded at $18.63, with a volume of 18,237 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCAP shares. Raymond James boosted their price target on Crescent Capital BDC from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Keefe, Bruyette & Woods boosted their price target on Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Company upped their target price on Crescent Capital BDC from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, May 13th.

Crescent Capital BDC Price Performance

The business has a fifty day simple moving average of $18.04 and a two-hundred day simple moving average of $17.33. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.11. The stock has a market cap of $693.76 million, a PE ratio of 6.75 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 8th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Crescent Capital BDC had a return on equity of 11.99% and a net margin of 53.32%. The firm had revenue of $50.36 million for the quarter, compared to the consensus estimate of $48.31 million. Research analysts forecast that Crescent Capital BDC, Inc. will post 2.34 earnings per share for the current year.

Crescent Capital BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.42 dividend. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.97%. The ex-dividend date is Friday, June 28th. Crescent Capital BDC’s payout ratio is currently 58.36%.

Institutional Trading of Crescent Capital BDC

A number of hedge funds have recently made changes to their positions in the stock. Alpine Global Management LLC bought a new stake in shares of Crescent Capital BDC in the 1st quarter worth approximately $217,000. Condor Capital Management boosted its position in shares of Crescent Capital BDC by 9.9% in the 1st quarter. Condor Capital Management now owns 224,320 shares of the company’s stock worth $3,872,000 after purchasing an additional 20,236 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Crescent Capital BDC by 46.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 70,766 shares of the company’s stock worth $1,221,000 after purchasing an additional 22,281 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Crescent Capital BDC in the 1st quarter worth approximately $303,000. Finally, Global Assets Advisory LLC bought a new stake in shares of Crescent Capital BDC in the 1st quarter worth approximately $415,000. 49.46% of the stock is owned by institutional investors.

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.