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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 32,091 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $10.60, for a total transaction of $340,164.60. Following the sale, the insider owned 4,099,759 shares in the company, valued at $43,457,445.40. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total transaction of $288,267.00.

Crescent Capital BDC Price Performance

Shares of CCAP traded down $0.06 during trading hours on Friday, reaching $10.54. The company had a trading volume of 150,256 shares, compared to its average volume of 223,095. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC, Inc. has a 12-month low of $10.50 and a 12-month high of $16.03. The firm has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $12.08. The company has a market capitalization of $388.40 million, a price-to-earnings ratio of -117.11 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The company had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $37.12 million. Research analysts expect that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 12.9%. Crescent Capital BDC’s payout ratio is -1,511.11%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CCAP. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Wells Fargo & Company decreased 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. LADENBURG THALM/SH SH lowered their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Finally, B. Riley Financial cut 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. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.10.

Institutional Investors Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC grew its holdings in Crescent Capital BDC by 7.7% during the 2nd quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock valued at $1,414,000 after buying an additional 9,286 shares during the last quarter. Rivernorth Capital Management LLC purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at $7,675,000. Beach Point Capital Management LP acquired a new stake in shares of Crescent Capital BDC during the second quarter valued at $402,042,000. Van ECK Associates Corp increased its position in Crescent Capital BDC by 3.7% during the 2nd quarter. Van ECK Associates Corp now owns 165,366 shares of the company’s stock worth $1,806,000 after purchasing an additional 5,936 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in Crescent Capital BDC in the 2nd quarter valued at about $111,000. Hedge funds and other institutional investors 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.