& Guaranty Life Insur Fidelity Sells 126,436 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 126,436 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $10.33, for a total transaction of $1,306,083.88. Following the completion of the transaction, the insider directly owned 3,819,361 shares in the company, valued at $39,453,999.13. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 stock was sold at an average price of $10.23, for a total transaction of $1,422,522.42.
• On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.39, for a total transaction of $108,793.69.
• 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 transaction of $51,813.74.
• 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 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 Price Performance

CCAP opened at $9.93 on Friday. Crescent Capital BDC, Inc. has a 1 year low of $9.88 and a 1 year high of $15.86. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $365.92 million, a price-to-earnings ratio of -110.33 and a beta of 0.52. The firm’s fifty day moving average price is $10.91 and its two-hundred day moving average price is $11.83.

Crescent Capital BDC (NASDAQ:CCAP) last announced 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 negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. As a group, analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is presently -1,511.11%.

Key Stories Impacting Crescent Capital BDC

Here are the key news stories impacting Crescent Capital BDC this week:

• Positive Sentiment: Crescent Capital BDC continues to offer a $0.34 quarterly dividend, equivalent to $1.36 annually and a yield of roughly 13%. The dividend may provide income support, although the company’s reported earnings and payout-ratio figures raise questions about sustainability. Dividend and company update
• Neutral Sentiment: Reported short interest was zero shares as of September 10, unchanged from the prior period. This implies no meaningful short-covering or short-selling pressure and makes the data largely irrelevant to the current move.
• Negative Sentiment: Bank of America downgraded CCAP from Buy to Neutral and cut its price target from $13 to $10.25. The revised target offers only about 3.2% upside from the stock’s reported $9.93 level, signaling limited near-term appreciation potential. Bank of America downgrade
• Negative Sentiment: Major shareholder Guaranty Life Insurance Fidelity has sold more than 300,000 shares in a series of recent transactions, including sales valued at approximately $1.31 million and $1.42 million on September 8 and 9. The trades were executed under a Rule 10b5-1 plan, which reduces their signaling value, but the persistent selling can still weigh on investor sentiment. Major shareholder sales
• Negative Sentiment: The company’s latest quarterly results missed consensus expectations, with earnings per share of $0.36 versus $0.37 expected. Reported revenue of $5.12 million was also well below the $37.12 million analyst estimate, adding to concerns about operating performance and earnings quality.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CCAP shares. B. Riley Financial cut their target price on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $19.00 to $16.00 in a report on Friday, May 15th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Bank of America reissued a “neutral” rating and issued a $10.25 price objective (down from $13.00) on shares of Crescent Capital BDC in a research report on Thursday. Finally, Wells Fargo & Company reduced their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.62.

Institutional Trading of Crescent Capital BDC

A number of large investors have recently added to or reduced their stakes in CCAP. Royal Bank of Canada raised its position in Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after acquiring an additional 2,128 shares during the period. XTX Topco Ltd bought a new position in shares of Crescent Capital BDC during the 2nd quarter valued at approximately $165,000. Quantbot Technologies LP bought a new position in shares of Crescent Capital BDC during the 2nd quarter valued at approximately $219,000. Invesco Ltd. increased its stake in shares of Crescent Capital BDC by 31.4% during the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after purchasing an additional 9,180 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter worth approximately $286,000. Hedge funds and other 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.