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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) shares gapped down prior to trading 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Wells Fargo & Company lifted their price target on Crescent Capital BDC from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, May 13th. Finally, Raymond James lifted their price target on Crescent Capital BDC from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, May 10th.

Crescent Capital BDC Price Performance

The firm has a market cap of $693.76 million, a P/E ratio of 6.75 and a beta of 0.81. 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 business has a 50-day moving average of $18.04 and a two-hundred day moving average of $17.33.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data 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. The business had revenue of $50.36 million for the quarter, compared to analyst estimates of $48.31 million. Crescent Capital BDC had a return on equity of 11.99% and a net margin of 53.32%. On average, sell-side analysts anticipate that Crescent Capital BDC, Inc. will post 2.34 earnings per share for the current fiscal year.

Crescent Capital BDC Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, June 28th. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 8.97%. Crescent Capital BDC’s payout ratio is presently 58.36%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alpine Global Management LLC acquired a new position in Crescent Capital BDC during the 1st quarter worth about $217,000. Condor Capital Management lifted its holdings in Crescent Capital BDC by 9.9% during the 1st quarter. Condor Capital Management now owns 224,320 shares of the company’s stock worth $3,872,000 after buying an additional 20,236 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Crescent Capital BDC by 46.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 70,766 shares of the company’s stock worth $1,221,000 after buying an additional 22,281 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Crescent Capital BDC during the 1st quarter worth about $303,000. Finally, Global Assets Advisory LLC acquired a new position in Crescent Capital BDC during the 1st quarter worth about $415,000. 49.46% of the stock is owned by institutional investors and hedge funds.

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.