Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $159,000.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 15,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $10.60, for a total value of $159,000.00. Following the sale, the insider directly owned 4,057,564 shares in the company, valued at $43,010,178.40. This represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major 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 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 shares were 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 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 Stock Performance

Shares of CCAP opened at $10.45 on Friday. The stock has a 50-day simple moving average of $11.00 and a 200-day simple moving average of $11.95. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $385.08 million, a PE ratio of -116.11 and a beta of 0.52. Crescent Capital BDC, Inc. has a 1 year low of $10.26 and a 1 year high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results 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 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 analyst estimates of $37.12 million. On average, analysts predict 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. Stockholders of record on Wednesday, September 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is presently -1,511.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Crescent Capital BDC during the 4th quarter worth $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of Crescent Capital BDC during the fourth quarter worth about $35,000. VPR Management LLC grew its holdings in shares of Crescent Capital BDC by 150.0% during the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after purchasing an additional 3,000 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in shares of Crescent Capital BDC during the second quarter worth about $111,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in shares of Crescent Capital BDC during the first quarter worth about $127,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH decreased their price objective on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Wells Fargo & Company cut their price target on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. Finally, Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.10.

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.