Bulldog Investors LLP Purchases 147,135 Shares of Crescent Capital BDC, Inc. $CCAP

Bulldog Investors LLP lifted its position in Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 50.7% in the third quarter, Holdings Channel.com reports. The firm owned 437,518 shares of the company’s stock after purchasing an additional 147,135 shares during the quarter. Crescent Capital BDC makes up 1.5% of Bulldog Investors LLP’s holdings, making the stock its 17th biggest holding. Bulldog Investors LLP’s holdings in Crescent Capital BDC were worth $6,239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CCAP. Westbourne Investments Inc. purchased a new position in shares of Crescent Capital BDC during the 3rd quarter valued at about $141,000. XTX Topco Ltd purchased a new stake in Crescent Capital BDC in the second quarter worth approximately $165,000. Seven Mile Advisory bought a new position in Crescent Capital BDC during the third quarter valued at approximately $189,000. Aquatic Capital Management LLC purchased a new position in shares of Crescent Capital BDC during the third quarter worth approximately $200,000. Finally, Quantbot Technologies LP purchased a new position in shares of Crescent Capital BDC during the second quarter worth approximately $219,000. 49.46% of the stock is currently owned by institutional investors.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP opened at $12.82 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.22 and a current ratio of 1.22. Crescent Capital BDC, Inc. has a fifty-two week low of $12.56 and a fifty-two week high of $17.97. The firm has a market cap of $473.35 million, a PE ratio of 13.64 and a beta of 0.57. The business has a 50 day moving average price of $13.91 and a 200-day moving average price of $14.34.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. The company had revenue of $19.05 million for the quarter, compared to the consensus estimate of $39.83 million. Equities research analysts predict that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.42 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 13.1%. Crescent Capital BDC’s payout ratio is presently 178.72%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CCAP shares. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Wells Fargo & Company lowered their price target on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Finally, Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.13.

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.