CCAP - Crescent Capital: It Has Become A Better Buy After Q1 2024
2024-05-28 23:24:40 ET
Summary
- Crescent Capital is a mid-sized BDC focused on private credit financing for small and medium-sized enterprises.
- Initially, when I issued my first thesis on CCAP, I was skeptical due to above average level and gaps in portfolio quality.
- After Q4, 2023 earnings, I changed the rating to buy since there were clear signs of a strong momentum at the fundamental end and the share price was still underperforming the index.
- Since then, CCAP has nicely outperformed the index, and now it has issued its Q1, 2024 earnings report.
- In this article, I explain why I am still bullish on CCAP after the recent run-up in the share price.
Crescent Capital ( CCAP ) is a mid-sized BDC with a focus on private credit financing for small and medium-sized enterprises, which have already achieved a sound cash generation phase....
Crescent Capital: It Has Become A Better Buy After Q1 2024