& Guaranty Life Insur Fidelity Sells 40,000 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 40,000 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $10.62, for a total value of $424,800.00. Following the sale, the insider directly owned 4,017,564 shares in the company, valued at $42,666,529.68. This represents a 0.99% 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 Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $159,000.00.
• 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.
• On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $340,164.60.

Crescent Capital BDC Trading Down 0.8%

NASDAQ CCAP opened at $10.40 on Thursday. Crescent Capital BDC, Inc. has a 52 week low of $10.38 and a 52 week high of $16.03. The firm has a 50 day moving average of $11.01 and a two-hundred day moving average of $11.98. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $383.24 million, a PE ratio of -115.56 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. As a group, research analysts expect that Crescent Capital BDC, Inc. will post 1.51 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is -1,511.11%.

Hedge Funds Weigh In On Crescent Capital BDC

Several institutional investors have recently bought and sold shares of CCAP. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC in the 4th quarter worth $27,000. Rockefeller Capital Management L.P. purchased a new position in Crescent Capital BDC during the fourth quarter worth about $35,000. VPR Management LLC lifted its position in 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 purchasing an additional 3,000 shares during the period. Permanens Capital L.P. purchased a new stake in Crescent Capital BDC in the 3rd quarter valued at approximately $147,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in Crescent Capital BDC in the 2nd quarter valued at approximately $111,000. 49.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CCAP shares. Wells Fargo & Company cut their target price on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. B. Riley Financial decreased their price objective on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. Finally, LADENBURG THALM/SH SH reduced their price target 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. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.10.

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.