Crescent Capital BDC (NASDAQ:CCAP) Sets New 52-Week Low – Here’s Why

Crescent Capital BDC, Inc. (NASDAQ:CCAP)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $14.36 and last traded at $14.62, with a volume of 103339 shares trading hands. The stock had previously closed at $15.71.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their target price on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.20.

Crescent Capital BDC Trading Down 7.1 %

The business’s 50 day moving average price is $18.33 and its two-hundred day moving average price is $18.73. The company has a market capitalization of $540.73 million, a price-to-earnings ratio of 7.33 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 1.18.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, February 19th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 11.90% and a net margin of 37.32%. The company had revenue of $46.40 million for the quarter, compared to the consensus estimate of $47.27 million. On average, equities analysts predict that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently declared a dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 28th. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 84.42%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CCAP. Franklin Resources Inc. increased its position in Crescent Capital BDC by 35.2% in the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock valued at $4,726,000 after acquiring an additional 66,713 shares during the period. Stifel Financial Corp lifted its stake in shares of Crescent Capital BDC by 53.1% in the third quarter. Stifel Financial Corp now owns 66,470 shares of the company’s stock worth $1,230,000 after acquiring an additional 23,055 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Crescent Capital BDC in the 4th quarter valued at $3,750,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Crescent Capital BDC during the fourth quarter worth $659,000. Finally, Oppenheimer & Co. Inc. bought a new position in Crescent Capital BDC during the fourth quarter worth $261,000. Institutional investors own 49.46% of the company’s stock.

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.