Crescent Capital BDC (NASDAQ:CCAP) Sees Unusually-High Trading Volume – Here’s Why

Crescent Capital BDC, Inc. (NASDAQ:CCAP) shares saw unusually-high trading volume on Thursday . Approximately 167,409 shares were traded during mid-day trading, an increase of 90% from the previous session’s volume of 88,297 shares.The stock last traded at $19.15 and had previously closed at $20.00.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCAP. Wells Fargo & Company lifted their price objective on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Crescent Capital BDC currently has an average rating of “Moderate Buy” and an average price target of $19.33.

Crescent Capital BDC Stock Performance

The stock has a market cap of $709.81 million, a price-to-earnings ratio of 7.50 and a beta of 0.81. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14. The stock’s 50-day simple moving average is $19.48 and its 200-day simple moving average is $18.86.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 12.20% and a net margin of 47.06%. The firm had revenue of $46.40 million for the quarter, compared to the consensus estimate of $47.27 million. Analysts forecast that Crescent Capital BDC, Inc. will post 2.43 earnings per share for the current fiscal year.

Crescent Capital BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 8.77%. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, December 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is 65.88%.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCAP. Sun Life Financial Inc. raised its holdings in shares of Crescent Capital BDC by 20.7% during the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock worth $41,187,000 after buying an additional 382,542 shares in the last quarter. Franklin Resources Inc. grew its position in Crescent Capital BDC by 12.8% in the fourth quarter. Franklin Resources Inc. now owns 289,131 shares of the company’s stock valued at $5,557,000 after acquiring an additional 32,852 shares during the last quarter. Condor Capital Management raised its stake in Crescent Capital BDC by 4.7% during the fourth quarter. Condor Capital Management now owns 284,055 shares of the company’s stock worth $5,460,000 after acquiring an additional 12,852 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Crescent Capital BDC in the third quarter worth about $4,878,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Crescent Capital BDC by 0.5% in the 4th quarter. Wells Fargo & Company MN now owns 253,182 shares of the company’s stock valued at $4,866,000 after purchasing an additional 1,210 shares in the last quarter. 49.46% of the stock is currently owned by institutional investors.

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.