Henry Chung Buys 4,500 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung acquired 4,500 shares of the stock in a transaction dated Thursday, May 21st. The stock was acquired at an average cost of $11.45 per share, with a total value of $51,525.00. Following the purchase, the president owned 20,722 shares of the company’s stock, valued at approximately $237,266.90. This trade represents a 27.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Crescent Capital BDC Trading Down 0.6%

NASDAQ CCAP opened at $11.37 on Friday. The firm has a 50 day simple moving average of $12.76 and a 200-day simple moving average of $13.65. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. Crescent Capital BDC, Inc. has a one year low of $10.92 and a one year high of $16.03. The firm has a market cap of $418.94 million, a price-to-earnings ratio of 27.73 and a beta of 0.59.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The company had revenue of ($6.84) million during the quarter, compared to the consensus estimate of $39.58 million. Equities research analysts anticipate that Crescent Capital BDC, Inc. will post 1.38 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.03 dividend. The ex-dividend date is Monday, November 30th. This represents a yield of 107.0%. Crescent Capital BDC’s payout ratio is currently 409.76%.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds and other institutional investors have recently bought and sold shares of CCAP. Royal Bank of Canada raised its stake in Crescent Capital BDC by 3.6% during the 1st 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 in the last quarter. XTX Topco Ltd acquired a new stake in Crescent Capital BDC during the 2nd quarter worth $165,000. Quantbot Technologies LP acquired a new stake in Crescent Capital BDC during the 2nd quarter worth $219,000. Invesco Ltd. raised its stake in 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 acquiring an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Crescent Capital BDC during the 2nd quarter worth $286,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCAP. Keefe, Bruyette & Woods decreased their price target on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research downgraded shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Finally, LADENBURG THALM/SH SH decreased their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.30.

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.