Cubist Systematic Strategies LLC Buys New Stake in Crescent Capital BDC, Inc. (NASDAQ:CCAP)

Cubist Systematic Strategies LLC purchased a new position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,413 shares of the company’s stock, valued at approximately $346,000.

A number of other institutional investors also recently made changes to their positions in CCAP. Point72 Asset Management L.P. purchased a new stake in Crescent Capital BDC during the 2nd quarter worth about $90,000. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC during the second quarter worth about $195,000. Alpine Global Management LLC acquired a new position in shares of Crescent Capital BDC in the first quarter valued at approximately $217,000. Catalina Capital Group LLC purchased a new position in shares of Crescent Capital BDC during the second quarter valued at approximately $220,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Crescent Capital BDC during the first quarter worth approximately $303,000. 49.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCAP. LADENBURG THALM/SH SH started coverage on Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 price target on the stock. Bank of America decreased their price target on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Crescent Capital BDC Stock Performance

Shares of NASDAQ:CCAP opened at $18.35 on Monday. The business has a 50-day moving average of $18.29 and a two-hundred day moving average of $18.22. The firm has a market capitalization of $680.05 million, a PE ratio of 6.67 and a beta of 0.81. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.40 and a quick ratio of 1.40. Crescent Capital BDC, Inc. has a 12 month low of $15.03 and a 12 month high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the company earned $0.56 EPS. As a group, research analysts forecast that Crescent Capital BDC, Inc. will post 2.35 earnings per share for the current year.

Crescent Capital BDC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.42 per share. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 30th. This represents a $1.68 annualized dividend and a dividend yield of 9.16%. Crescent Capital BDC’s payout ratio is presently 61.09%.

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.