Insider Buying: Crescent Capital BDC (NASDAQ:CCAP) CEO Acquires 5,000 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) CEO Jason Breaux bought 5,000 shares of Crescent Capital BDC stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $11.19 per share, with a total value of $55,950.00. Following the completion of the transaction, the chief executive officer directly owned 52,636 shares of the company’s stock, valued at approximately $588,996.84. The trade was a 10.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP traded up $0.14 during mid-day trading on Thursday, reaching $11.44. The company’s stock had a trading volume of 214,002 shares, compared to its average volume of 214,456. The stock has a 50-day moving average of $12.82 and a two-hundred day moving average of $13.69. The stock has a market capitalization of $421.56 million, a P/E ratio of 27.90 and a beta of 0.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. Crescent Capital BDC, Inc. has a 1-year low of $10.92 and a 1-year high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of ($6.84) million during the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. On average, equities research analysts anticipate that Crescent Capital BDC, Inc. will post 1.39 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a dividend yield of 107.0%. Crescent Capital BDC’s dividend payout ratio (DPR) is 409.76%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CCAP shares. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday. Wells Fargo & Company cut their target price on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. LADENBURG THALM/SH SH cut their target price on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods cut their target price on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Crescent Capital BDC presently has an average rating of “Hold” and an average target price of $14.30.

Institutional Trading of Crescent Capital BDC

Hedge funds and other institutional investors have recently modified their holdings of the business. North Ground Capital grew its position in Crescent Capital BDC by 99.8% in the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock valued at $11,736,000 after acquiring an additional 417,312 shares in the last quarter. Invesco Ltd. grew its position in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after acquiring an additional 618,590 shares in the last quarter. Franklin Resources Inc. grew its position in Crescent Capital BDC by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after acquiring an additional 35,534 shares in the last quarter. Bulldog Investors LLP grew its position in Crescent Capital BDC by 4.6% in the 4th quarter. Bulldog Investors LLP now owns 457,518 shares of the company’s stock valued at $6,428,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Mariner LLC grew its position in Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after acquiring an additional 1,492 shares in the last quarter. 49.46% of the stock is owned by institutional investors and hedge funds.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a closed-end, externally managed business development company that provides flexible financing solutions to middle market companies in the United States. Trading on the Nasdaq under the ticker CCAP, the firm offers investors exposure to a diversified portfolio of debt and equity instruments, targeting businesses with attractive risk-adjusted return profiles. Its primary objective is to generate current income through interest payments and potential capital appreciation via selective equity co-investments.

The company’s investment strategy emphasizes senior secured loans, unsecured second-lien loans, mezzanine debt, as well as preferred and common equity co-investments.