Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder & Guaranty Life Insur Fidelity Sells 5,011 Shares

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 5,011 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $10.34, for a total value of $51,813.74. Following the completion of the transaction, the insider directly owned 3,956,268 shares of the company’s stock, valued at $40,907,811.12. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.39, for a total value of $108,793.69.
• On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.44, for a total value of $469,800.00.
• 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 value of $118,492.50.
• On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.62, for a total value of $424,800.00.
• On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The shares were 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 shares were sold at an average price of $10.60, for a total transaction of $288,267.00.
• On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total transaction of $340,164.60.

Crescent Capital BDC Price Performance

CCAP traded down $0.01 on Tuesday, reaching $10.36. The company had a trading volume of 258,266 shares, compared to its average volume of 223,706. The company has a market capitalization of $381.62 million, a P/E ratio of -115.07 and a beta of 0.52. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The company has a fifty day moving average of $10.97 and a 200-day moving average of $11.90. Crescent Capital BDC, Inc. has a one year low of $10.26 and a one year high of $15.92.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share 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 analyst estimates of $37.12 million. As a group, equities research analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CCAP shares. LADENBURG THALM/SH SH decreased their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Wells Fargo & Company dropped their price target on shares of 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. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. B. Riley Financial decreased their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.10.

Institutional Trading of Crescent Capital BDC

Large investors have recently added to or reduced their stakes in the company. Fidelity National Financial Inc. purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at $45,922,000. Rivernorth Capital Management LLC purchased a new position in shares of Crescent Capital BDC during the second quarter valued at $7,675,000. Invesco Ltd. grew its holdings in shares of Crescent Capital BDC by 1,504.9% during the fourth quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after buying an additional 618,590 shares in the last quarter. North Ground Capital acquired a new position in Crescent Capital BDC during the second quarter valued at $5,687,136. Finally, Focus Partners Wealth acquired a new position in Crescent Capital BDC during the fourth quarter valued at $5,476,000. 49.46% of the stock is owned by institutional investors and hedge funds.

About Crescent Capital BDC

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.