& Guaranty Life Insur Fidelity Sells 27,195 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 27,195 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $10.60, for a total value of $288,267.00. Following the transaction, the insider owned 4,072,564 shares in the company, valued at approximately $43,169,178.40. This trade represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock are required to disclose their sales and purchases with the SEC.

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

• 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 Stock Performance

CCAP traded down $0.06 during trading on Friday, hitting $10.54. The stock had a trading volume of 150,256 shares, compared to its average volume of 223,095. 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 50 day moving average price of $11.06 and a 200-day moving average price of $12.08. Crescent Capital BDC, Inc. has a one year low of $10.50 and a one year high of $16.03. The firm has a market cap of $388.40 million, a price-to-earnings ratio of -117.11 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 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 firm had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. As a group, research analysts predict that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CCAP shares. 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 for the company in a report on Wednesday, August 12th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. B. Riley Financial dropped their price target on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Finally, LADENBURG THALM/SH SH cut their price target on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.10.

Hedge Funds Weigh In On Crescent Capital BDC

Several hedge funds have recently bought and sold shares of CCAP. HighTower Advisors LLC raised its position in shares of Crescent Capital BDC by 7.7% in the 2nd quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock valued at $1,414,000 after buying an additional 9,286 shares in the last quarter. Rivernorth Capital Management LLC bought a new stake in shares of Crescent Capital BDC during the 2nd quarter worth approximately $7,675,000. Beach Point Capital Management LP acquired a new stake in shares of Crescent Capital BDC during the 2nd quarter worth approximately $402,042,000. Van ECK Associates Corp boosted its position in shares of Crescent Capital BDC by 3.7% during the 2nd quarter. Van ECK Associates Corp now owns 165,366 shares of the company’s stock worth $1,806,000 after acquiring an additional 5,936 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of Crescent Capital BDC during the 2nd quarter worth approximately $111,000. 49.46% of the stock is owned by 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.