Crescent Capital BDC (NASDAQ:CCAP) CFO Purchases $21,820.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) CFO Gerhard Lombard bought 2,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $10.91 per share, with a total value of $21,820.00. Following the completion of the transaction, the chief financial officer owned 40,509 shares of the company’s stock, valued at $441,953.19. The trade was a 5.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Crescent Capital BDC Price Performance

CCAP stock opened at $10.71 on Friday. The firm has a 50 day simple moving average of $11.11 and a two-hundred day simple moving average of $12.20. The stock has a market cap of $394.66 million, a PE ratio of -119.00 and a beta of 0.52. Crescent Capital BDC, Inc. has a one year low of $10.59 and a one year high of $16.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The company had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $37.12 million. On average, analysts predict that Crescent Capital BDC, Inc. will post 1.51 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is currently -1,511.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CCAP shares. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Finally, Wells Fargo & Company lowered their price objective on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Fidelity National Financial Inc. purchased a new position in shares of Crescent Capital BDC in the second quarter worth about $45,922,000. North Ground Capital boosted its holdings in Crescent Capital BDC by 99.8% during 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 during the period. Rivernorth Capital Management LLC bought a new position in Crescent Capital BDC during the 2nd quarter worth approximately $7,675,000. Invesco Ltd. grew its position in Crescent Capital BDC by 1,504.9% during the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock worth $9,269,000 after acquiring an additional 618,590 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Crescent Capital BDC by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock worth $7,707,000 after purchasing an additional 35,534 shares during the period. 49.46% of the stock is owned by institutional investors.

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.