Crescent Capital BDC
CCAP
Market cap $678M

18.30 USD

+0.04

0.22%

At close Oct 4, 4:00 PM EDT

1 day

0.22%

5 days

-1.19%

1 month

1.89%

3 months

-5.86%

6 months

7.08%

Year to date

6.33%

1 year

11.25%

5 years

11.59%

About: Crescent Capital BDC Inc is a business development company structured as an externally managed, closed-end, non-diversified management investment company. The company's primary investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. It will seek to achieve its investment objectives by investing in secured debt (including senior secured, unitranche, and second lien debt) and unsecured debt (including senior unsecured, mezzanine, and subordinated debt), as well as related equity securities of private U.S. middle-market companies.

0

Funds holding %

of 6,728 funds

0

Analysts bullish %

of 4 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

182% more call options, than puts

Call options by funds: $604K | Put options by funds: $214K

154% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 13

57% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 14

11% more funds holding

Funds holding: 76 [Q1] → 84 (+8) [Q2]

3% more capital invested

Capital invested by funds: $315M [Q1] → $324M (+$8.64M) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 3 [Q1] → 3 (+0) [Q2]

2.69% less ownership

Funds ownership: 49.18% [Q1] → 46.49% (-2.69%) [Q2]

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Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$18

2%

downside

Avg. target

$19

4%

upside

High target

$20

9%

upside

4 analyst ratings

2 positive

50%

2 neutral

50%

0 negative

0%

Ladenburg Thalmann Mickey Schleien 0% 1-year accuracy 0 / 1 met price target	9%upside $20	Buy Initiated	30 Sept 2024
B of A Securities Derek Hewett 20% 1-year accuracy 1 / 5 met price target	4%upside $19	Buy Maintained	15 Aug 2024
Wells Fargo Finian O'Shea 50% 1-year accuracy 12 / 24 met price target	2%downside $18	Equal-Weight Maintained	14 Aug 2024
Wells Fargo Finian O'Shea 50% 1-year accuracy 12 / 24 met price target	4%upside $19	Equal-Weight Maintained	26 Jul 2024

See Analyst Rankings

Financial journalist opinion

Based on 5 articles about CCAP published over the past 30 days

I'm Buying Up To 9% Yield For Recurring Income

An investor's cash flow should be measured alongside net worth as a measure of financial resiliency. Crescent Capital offers an 8.9% yield, focusing on first-lien loans in cash flow-generating, private equity-backed middle-market businesses, with a robust portfolio and strong financials. Federal Realty, a top-tier REIT, provides a 3.9% yield, high-quality mixed-use properties in affluent areas, and a 57-year streak of dividend increases.

I'm Buying Up To 9% Yield For Recurring Income

Crescent Capital High Yielding Dividends Are Well-Covered Despite Interest Rate Sensitivity

Crescent Capital BDC has a well-diversified, defensive portfolio with 89.2% first-lien debt and decreasing non-accruals, indicating high portfolio quality. CCAP is sensitive to interest rate cuts due to its floating-rate debt investments, but lower interest expenses and increased market activity could somewhat offset this. Despite potential interest rate cuts, CCAP's dividends remain well-covered, with a strong net investment income per share providing robust dividend coverage.

Crescent Capital High Yielding Dividends Are Well-Covered Despite Interest Rate Sensitivity

Crescent Capital BDC: A Reliable Dividend Payer

Crescent Capital BDC boasts a robust portfolio with a low percentage of high-risk investments, ensuring solid NAV growth and consistent net investment income. CCAP offers an attractive forward dividend yield of 9.64%, rising to nearly 12% with special distributions, supported by a strong NII coverage ratio. Trading at a nearly 10% discount to NAV, Crescent Capital's valuation is justified by its consistent performance and potential for future NAV growth.

Crescent Capital BDC: A Reliable Dividend Payer

Buy These ‘Private Equity' Plays For 10.5% Yields

Let's talk about a “rich guy loophole” that you and I can take advantage of—and bank dividends up to 12.5%.

Buy These ‘Private Equity' Plays For 10.5% Yields

3 Pillars To Minimize BDC Dividend Cut Risk In Your Portfolio

It is very likely that for most BDCs, the earnings have peaked and the direction of travel is unfavorable. There are both structural and transitory headwinds that put a pressure on earnings, rendering the dividend coverage levels potentially unsustainable. In this article, I share three pillars that have to be in place in BDC dividend investor portfolio to mitigate the risk of experiencing a cut in their income streams.

3 Pillars To Minimize BDC Dividend Cut Risk In Your Portfolio

2 BDCs With Unjustified Discount Of 10% Or Greater

In the current environment, it is indeed difficult for BDCs to achieve premium over NAV. However, as the earnings and dividends continue to remain strong in the sector, I see no reason for significant discounts to NAV. In this article, I have identified two BDCs, which trade at a steep discount to their net asset values despite robust fundamentals. It clearly provides an opportunity for investors.

2 BDCs With Unjustified Discount Of 10% Or Greater

Zacks Investment Research

3 SBIC & Commercial Finance Stocks to Watch Despite Industry Woes

Weak asset quality high rates and macroeconomic woes are likely to hurt Zacks SBIC & Commercial Finance industry players like Golub Capital (GBDC), Barings BDC (BBDC) and Crescent Capital (CCAP). Yet, a rise in financing demand across sectors is likely to aid.

3 SBIC & Commercial Finance Stocks to Watch Despite Industry Woes

Crescent Capital: Strong Cash Flow And The Right Quality For Remaining Bullish

Recently, Crescent Capital has outperformed the BDC market delivering positive returns, while the index has dropped in the negative return territory. Q2, 2024 earnings deck helps explain this, where we can see a continued generation of robust cash flows, solid portfolio quality and improved transaction outlook. In this article, I dissect the Q2 earnings and explain in detail why I have remained bullish.

Crescent Capital: Strong Cash Flow And The Right Quality For Remaining Bullish

Crescent Capital BDC, Inc. (CCAP) Q2 2024 Earnings Call Transcript

Crescent Capital BDC, Inc. (NASDAQ:CCAP ) Q2 2024 Results Conference Call August 13, 2024 12:00 PM ET Company Participants Dan McMahon - Head of Investor Relations Jason Breaux - Chief Executive Officer Henry Chung - President Gerhard Lombard - Chief Financial Officer Conference Call Participants Robert Dodd - Raymond James Paul Johnson - KBW Finian O'Shea - Wells Fargo Derek Hewett - Bank of America Operator Good day, everyone and welcome to the Q2 2024 Crescent Capital BDC Earnings Conference Call. At this time, all participants are in a listen-only mode.

Crescent Capital BDC, Inc. (CCAP) Q2 2024 Earnings Call Transcript

Debunking 2 Common Myths About BDC Dividend Investing

Business Development Companies or BDCs offer great financial characteristics for high income seeking investors. Lately, there has been a lot of chatter around BDCs struggling and experiencing negative results due to the weakening economy and lower interest rates. While this could be true for selected BDCs, it is a myth that the entire BDC sector will experience such consequences in a systematic manner.

Debunking 2 Common Myths About BDC Dividend Investing

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