Crescent Capital BDC (NASDAQ:CCAP) Sees Strong Trading Volume - Here's What Happened

The shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) experienced a significant rise in trading volume on Thursday. Approximately 167,409 shares changed hands, showing a remarkable increase of 90% compared to the previous day's volume of 88,297 shares. The last recorded trading price for the stock was $19.15, down from the previous closing price of $20.00.

Analyst Ratings Updates

Recently, several equity research analysts have provided insights on the performance of CCAP shares. On January 29th, Wells Fargo & Company increased their price target for Crescent Capital BDC from $18.00 to $19.00, maintaining an "equal weight" rating. Similarly, Keefe, Bruyette & Woods raised their price target for the company from $19.00 to $20.00, issuing an "outperform" rating on November 25th. Currently, one analyst has recommended holding the stock, while five others have given it a buy rating. MarketBeat.com reports an average rating of "Moderate Buy" for Crescent Capital BDC along with a consensus target price of $19.33.

Current Trading Performance

Crescent Capital BDC's stock has experienced a decline of 4.2%. The company's current trading metrics include a 50-day simple moving average of $19.48 and a 200-day simple moving average of $18.86. The debt-to-equity ratio stands at 1.14, with a quick ratio and current ratio both at 1.26. The market capitalization for Crescent Capital BDC is $709.81 million, with a price-to-earnings (P/E) ratio of 7.50, and a beta of 0.81.

On February 19th, Crescent Capital BDC announced their quarterly earnings results, reporting an earnings per share (EPS) of $0.55 for the quarter. This result did not meet the consensus estimate of $0.56, reflecting a slight miss of $0.01. The company’s return on equity was reported at 12.20%, alongside a net margin of 47.06%. Crescent Capital BDC generated revenue of $46.40 million during the quarter, compared to analyst expectations of $47.27 million. Sell-side analysts are predicting an EPS of 2.43 for the current fiscal year.

Dividend Announcement

Crescent Capital BDC has also made headlines recently by announcing a quarterly dividend. This dividend, which amounted to $0.42 per share, was paid on January 15th to shareholders on record as of December 31st. This figure translates to an annualized dividend of $1.68, yielding 8.77%. This is a notable increase from the previous quarterly dividend of $0.07. The ex-dividend date was also set for December 31st. At present, the company's dividend payout ratio stands at 65.88%.

Institutional Investor Activity

Recent activity among large investors indicates a growing interest in Crescent Capital BDC. Montag A & Associates Inc. took a new position valued at around $35,000 during the fourth quarter. Other firms such as C M Bidwell & Associates Ltd. and Aquatic Capital Management LLC also opened new positions valued at approximately $39,000 and $129,000 respectively. Generation Capital Management LLC and Dynamic Technology Lab Private Ltd added further positions valued at about $192,000 and $218,000 respectively. Currently, institutional investors and hedge funds own about 49.46% of Crescent Capital BDC's shares.

About Crescent Capital BDC

Crescent Capital BDC, Inc. is a business development company specializing in private equity, buyouts, and loan funds. The company primarily focuses on direct investments in the middle market within the United States.

Crescent, Volume, Trading