Pettinga Financial Advisors LLC Increases Stock Position in Crescent Capital BDC, Inc. (NASDAQ:CCAP)

Pettinga Financial Advisors LLC lifted its holdings in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 95.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,017 shares of the company’s stock after buying an additional 14,200 shares during the period. Pettinga Financial Advisors LLC owned about 0.08% of Crescent Capital BDC worth $537,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Confluence Investment Management LLC lifted its stake in shares of Crescent Capital BDC by 3.0% in the second quarter. Confluence Investment Management LLC now owns 71,623 shares of the company’s stock valued at $1,345,000 after purchasing an additional 2,108 shares during the period. Point72 Asset Management L.P. purchased a new position in Crescent Capital BDC in the second quarter valued at about $90,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Crescent Capital BDC by 14.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 80,766 shares of the company’s stock valued at $1,517,000 after acquiring an additional 10,000 shares during the period. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter worth approximately $195,000. Finally, Catalina Capital Group LLC purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter worth approximately $220,000. 49.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCAP has been the subject of several research reports. Bank of America reduced their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 15th. LADENBURG THALM/SH SH assumed coverage on Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Crescent Capital BDC currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Crescent Capital BDC Stock Performance

NASDAQ CCAP opened at $18.39 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.17. Crescent Capital BDC, Inc. has a fifty-two week low of $15.03 and a fifty-two week high of $19.63. The business has a fifty day moving average of $18.43 and a 200-day moving average of $18.30. The stock has a market cap of $681.57 million, a price-to-earnings ratio of 6.54 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The firm had revenue of $48.95 million during the quarter, compared to the consensus estimate of $48.05 million. Crescent Capital BDC had a net margin of 51.61% and a return on equity of 12.03%. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, analysts predict that Crescent Capital BDC, Inc. will post 2.35 earnings per share for the current fiscal year.

Crescent Capital BDC Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.42 dividend. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.09. This represents a $1.68 annualized dividend and a yield of 9.14%. The ex-dividend date of this dividend was Monday, September 30th. Crescent Capital BDC’s payout ratio is presently 59.79%.

Crescent Capital BDC 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.