Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $469,800.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 45,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $10.44, for a total transaction of $469,800.00. Following the completion of the transaction, the insider owned 3,961,279 shares in the company, valued at $41,355,752.76. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

& Guaranty Life Insur Fidelity also recently made the following trade(s):

• On Tuesday, September 1st, & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.50, for a total transaction of $118,492.50.
• On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.62, for a total transaction of $424,800.00.
• On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $159,000.00.
• On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $288,267.00.
• On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total value of $340,164.60.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP opened at $10.37 on Friday. The stock has a 50-day simple moving average of $10.98 and a two-hundred day simple moving average of $11.94. Crescent Capital BDC, Inc. has a 52-week low of $10.26 and a 52-week high of $16.03. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $382.13 million, a PE ratio of -115.22 and a beta of 0.52.

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

Crescent Capital BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 13.1%. Crescent Capital BDC’s dividend payout ratio (DPR) is presently -1,511.11%.

Wall Street Analysts Forecast Growth

CCAP has been the subject of a number of analyst reports. B. Riley Financial reduced their price objective on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. 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 report on Monday, August 17th. Finally, Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.10.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Crescent Capital BDC during the fourth quarter valued at $27,000. Rockefeller Capital Management L.P. purchased a new stake in Crescent Capital BDC in the 4th quarter worth $35,000. VPR Management LLC boosted its holdings in shares of Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in shares of Crescent Capital BDC during the 2nd quarter valued at about $111,000. Finally, Beaumont Financial Advisors LLC purchased a new position in shares of Crescent Capital BDC during the first quarter valued at about $127,000. Institutional investors own 49.46% of the company’s stock.

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.