Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder & Guaranty Life Insur Fidelity Sells 5,011 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $10.34, for a total transaction of $51,813.74. Following the completion of the transaction, the insider directly owned 3,956,268 shares of the company’s stock, valued at approximately $40,907,811.12. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.39, for a total transaction of $108,793.69.
• On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.44, for a total transaction of $469,800.00.
• On Tuesday, September 1st, & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.50, for a total value 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 value 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 value of $340,164.60.

Crescent Capital BDC Stock Performance

Shares of NASDAQ CCAP opened at $10.29 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $379.15 million, a P/E ratio of -114.33 and a beta of 0.52. Crescent Capital BDC, Inc. has a 12 month low of $10.26 and a 12 month high of $15.92. The stock has a 50 day moving average of $10.95 and a 200-day moving average of $11.88.

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

Crescent Capital BDC Announces Dividend

The business also recently announced 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Analysts Set New Price Targets

CCAP has been the subject of several research reports. Keefe, Bruyette & Woods restated 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. LADENBURG THALM/SH SH dropped their price target on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a report 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. B. Riley Financial dropped their target price 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. Finally, Wells Fargo & Company decreased their price target on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.10.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ieq Capital LLC lifted its stake in Crescent Capital BDC by 3.0% during the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock worth $358,000 after purchasing an additional 746 shares during the last quarter. Mariner LLC increased its stake in shares of Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after purchasing an additional 1,492 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Crescent Capital BDC during the 4th quarter worth $27,000. LMG Wealth Partners LLC raised its holdings in shares of Crescent Capital BDC by 17.8% during the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after buying an additional 2,048 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Crescent Capital BDC by 20.2% during the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after buying an additional 2,066 shares during the last quarter. 49.46% of the stock is currently owned by institutional investors and hedge funds.

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.