& Guaranty Life Insur Fidelity Sells 32,091 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 32,091 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $10.60, for a total value of $340,164.60. Following the completion of the transaction, the insider directly owned 4,099,759 shares in the company, valued at approximately $43,457,445.40. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total value of $288,267.00.

Crescent Capital BDC Trading Down 0.6%

Shares of NASDAQ CCAP opened at $10.54 on Friday. The stock has a market cap of $388.40 million, a price-to-earnings ratio of -117.11 and a beta of 0.52. The business has a 50 day simple moving average of $11.05 and a 200 day simple moving average of $12.07. Crescent Capital BDC, Inc. has a 52 week low of $10.50 and a 52 week high of $16.03. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30.

Crescent Capital BDC (NASDAQ:CCAP) last issued 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). The business had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. On average, research 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.9%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCAP. Wells Fargo & Company decreased 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. LADENBURG THALM/SH SH reduced their price target on 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. B. Riley Financial decreased their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company 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. Finally, Oppenheimer downgraded Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $19.00 to $16.00 in a research note on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CCAP. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Crescent Capital BDC during the 4th quarter worth about $27,000. Rockefeller Capital Management L.P. acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth approximately $35,000. VPR Management LLC boosted its position in shares of Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in shares of Crescent Capital BDC in the second quarter worth $111,000. Finally, Beaumont Financial Advisors LLC bought a new position in Crescent Capital BDC during the first quarter worth $127,000. Institutional investors and hedge funds 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.