& Guaranty Life Insur Fidelity Sells 45,000 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $10.44, for a total value of $469,800.00. Following the completion of the sale, the insider owned 3,961,279 shares in the company, valued at approximately $41,355,752.76. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 transaction 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 transaction of $424,800.00.
• 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 shares were sold at an average price of $10.60, for a total transaction of $340,164.60.

Crescent Capital BDC Price Performance

NASDAQ:CCAP traded down $0.00 during trading hours on Thursday, reaching $10.40. 116,080 shares of the company’s stock were exchanged, compared to its average volume of 223,559. The company has a market capitalization of $383.20 million, a P/E ratio of -115.39 and a beta of 0.52. 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 business’s 50-day simple moving average is $11.01 and its two-hundred day simple moving average is $11.98. Crescent Capital BDC, Inc. has a 12 month low of $10.26 and a 12 month 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. Sell-side analysts expect that Crescent Capital BDC, Inc. will post 1.51 EPS 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. Investors of record on Wednesday, September 30th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 13.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s payout ratio is presently -1,511.11%.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Crescent Capital BDC in the fourth quarter valued at about $27,000. Rockefeller Capital Management L.P. bought a new stake in Crescent Capital BDC during the 4th quarter worth about $35,000. VPR Management LLC grew its holdings in Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the last quarter. Permanens Capital L.P. acquired a new stake in Crescent Capital BDC in the 3rd quarter valued at about $147,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Crescent Capital BDC in the second quarter worth about $111,000. 49.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CCAP. B. Riley Financial reduced their target price on shares of 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. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. 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. Wells Fargo & Company reduced their target price on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Finally, Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $19.00 to $16.00 in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus 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.