& Guaranty Life Insur Fidelity Sells 10,471 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 10,471 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $10.39, for a total value of $108,793.69. Following the sale, the insider owned 3,945,797 shares of the company’s stock, valued at approximately $40,996,830.83. This represents a 0.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 9th, & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.23, for a total value of $1,422,522.42.
• On Tuesday, September 8th, & Guaranty Life Insur Fidelity sold 126,436 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.33, for a total value of $1,306,083.88.
• On Thursday, September 3rd, & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.34, for a total value of $51,813.74.
• On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The stock was 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 shares were 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 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 stock was sold at an average price of $10.60, for a total value of $340,164.60.

Crescent Capital BDC Price Performance

Shares of CCAP opened at $10.23 on Thursday. The firm has a market cap of $376.98 million, a PE ratio of -113.67 and a beta of 0.52. The firm’s 50 day moving average price is $10.94 and its 200 day moving average price is $11.86. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. Crescent Capital BDC, Inc. has a twelve month low of $10.16 and a twelve month high of $15.86.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate 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 business had revenue of $5.12 million during the quarter, compared to the consensus estimate of $37.12 million. As a group, research analysts expect that Crescent Capital BDC, Inc. will post 1.51 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 13.3%. Crescent Capital BDC’s dividend payout ratio is currently -1,511.11%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Crescent Capital BDC during the second quarter valued at about $1,361,000. Fidelity National Financial Inc. bought a new position in shares of Crescent Capital BDC in the second quarter worth about $45,922,000. Closed End Fund Advisors Inc. bought a new position in shares of Crescent Capital BDC in the fourth quarter worth about $3,166,000. North Ground Capital acquired a new position in shares of Crescent Capital BDC during the 2nd quarter worth about $5,687,136. Finally, Rivernorth Capital Management LLC acquired a new position in shares of Crescent Capital BDC during the 2nd quarter worth about $7,675,000. Institutional investors own 49.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CCAP shares. LADENBURG THALM/SH SH cut their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. 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 note on Wednesday, August 12th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Oppenheimer downgraded Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $19.00 to $16.00 in a research note on Friday, May 15th. Finally, Wells Fargo & Company reduced their target price on 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Crescent Capital BDC has an average rating of “Hold” and a consensus target price of $13.10.

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.