Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $424,800.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $10.62, for a total value of $424,800.00. Following the completion of the sale, the insider directly owned 4,017,564 shares in the company, valued at $42,666,529.68. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 shares were sold at an average price of $10.50, for a total transaction of $118,492.50.
• 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 transaction 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 value of $340,164.60.

Crescent Capital BDC Trading Up 0.5%

Shares of NASDAQ CCAP opened at $10.45 on Friday. Crescent Capital BDC, Inc. has a 1-year low of $10.26 and a 1-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. The business’s 50 day moving average is $11.00 and its two-hundred day moving average is $11.95. The stock has a market capitalization of $385.08 million, a P/E ratio of -116.11 and a beta of 0.52.

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

Crescent Capital BDC Announces Dividend

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 paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 13.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s payout ratio is presently -1,511.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCAP shares. B. Riley Financial reduced their target price on shares of 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. 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. Wells Fargo & Company dropped their target price on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Finally, Oppenheimer downgraded Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $19.00 to $16.00 in a report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.10.

Institutional Trading of Crescent Capital BDC

A number of large investors have recently made changes to their positions in CCAP. Northwestern Mutual Wealth Management Co. purchased a new position in Crescent Capital BDC in the 4th quarter worth about $27,000. Rockefeller Capital Management L.P. purchased a new stake in Crescent Capital BDC in the 4th quarter valued at about $35,000. VPR Management LLC boosted its position in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after buying an additional 3,000 shares during the period. Beacon Pointe Advisors LLC bought a new position in Crescent Capital BDC in the 2nd quarter worth about $111,000. Finally, Beaumont Financial Advisors LLC bought a new position in Crescent Capital BDC in the 1st quarter worth about $127,000. 49.46% of the stock is owned by hedge funds and other 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.