Crescent Capital BDC, Inc. (CCAP) To Go Ex-Dividend on May 29th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a special dividend on Wednesday, May 13th. Investors of record on Sunday, May 31st will be paid a dividend of 0.03 per share on Monday, June 15th. This represents a yield of 107.0%. The ex-dividend date of this dividend is Friday, May 29th.

Crescent Capital BDC has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Crescent Capital BDC has a payout ratio of 97.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Crescent Capital BDC to earn $1.47 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 114.3%.

Crescent Capital BDC Stock Up 0.6%

Shares of NASDAQ:CCAP opened at $11.44 on Wednesday. Crescent Capital BDC has a 1 year low of $10.92 and a 1 year high of $16.03. The company has a market cap of $421.52 million, a PE ratio of 27.90 and a beta of 0.59. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53. The stock’s 50-day moving average is $12.71 and its 200 day moving average is $13.61.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of ($6.84) million for the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%. Sell-side analysts anticipate that Crescent Capital BDC will post 1.38 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jason Breaux purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $11.19 per share, with a total value of $55,950.00. Following the transaction, the chief executive officer directly owned 52,636 shares in the company, valued at $588,996.84. This trade represents a 10.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Henry Chung purchased 4,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the transaction, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This represents a 27.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds have recently added to or reduced their stakes in CCAP. Invesco Ltd. raised its holdings in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock worth $9,269,000 after acquiring an additional 618,590 shares during the last quarter. North Ground Capital raised its holdings in Crescent Capital BDC by 99.8% in the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after acquiring an additional 417,312 shares during the last quarter. Focus Partners Wealth purchased a new position in Crescent Capital BDC in the 4th quarter worth approximately $5,476,000. Closed End Fund Advisors Inc. purchased a new position in Crescent Capital BDC in the 4th quarter worth approximately $3,166,000. Finally, Alpine Global Management LLC purchased a new position in Crescent Capital BDC in the 3rd quarter worth approximately $3,137,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

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.