Henry Chung Acquires 2,500 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung acquired 2,500 shares of Crescent Capital BDC stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the completion of the purchase, the president owned 23,917 shares in the company, valued at approximately $260,456.13. The trade was a 11.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP opened at $10.71 on Friday. The company has a market capitalization of $394.66 million, a PE ratio of -119.00 and a beta of 0.52. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC, Inc. has a twelve month low of $10.59 and a twelve month high of $16.03. The firm has a fifty day simple moving average of $11.11 and a 200 day simple moving average of $12.20.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.36 earnings per share 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. On average, sell-side analysts forecast that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 12.7%. Crescent Capital BDC’s payout ratio is -1,511.11%.

Wall Street Analyst Weigh In

CCAP has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. LADENBURG THALM/SH SH cut their target price on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research note 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 dropped their price objective on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Finally, Wells Fargo & Company cut their price objective 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. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Crescent Capital BDC presently has an average rating of “Hold” and a consensus target price of $13.10.

Institutional Trading of Crescent Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of CCAP. Rivernorth Capital Management LLC bought a new position in shares of Crescent Capital BDC in the second quarter valued at $7,675,000. Beach Point Capital Management LP bought a new position in Crescent Capital BDC in the 2nd quarter valued at about $402,042,000. Van ECK Associates Corp lifted its position in Crescent Capital BDC by 3.7% in the 2nd quarter. Van ECK Associates Corp now owns 165,366 shares of the company’s stock valued at $1,806,000 after acquiring an additional 5,936 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in Crescent Capital BDC during the 2nd quarter valued at about $111,000. Finally, Almitas Capital LLC acquired a new position in Crescent Capital BDC during the 2nd quarter valued at about $3,897,000. 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.