Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $1,422,522.42 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total value of $1,422,522.42. Following the transaction, the insider owned 3,680,307 shares in the company, valued at approximately $37,649,540.61. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Tuesday, September 8th, & Guaranty Life Insur Fidelity sold 126,436 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.33, for a total value of $1,306,083.88.
• On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.39, for a total value of $108,793.69.
• On Thursday, September 3rd, & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.34, for a total value of $51,813.74.
• On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.44, for a total value of $469,800.00.
• 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 shares were 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 transaction of $159,000.00.
• 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.
• 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 transaction of $340,164.60.

Crescent Capital BDC Stock Performance

Crescent Capital BDC stock traded down $0.06 during mid-day trading on Wednesday, reaching $10.23. 510,129 shares of the company traded hands, compared to its average volume of 226,861. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. Crescent Capital BDC, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $15.86. The company has a market capitalization of $376.93 million, a price-to-earnings ratio of -113.67 and a beta of 0.52. The firm’s fifty day moving average is $10.95 and its two-hundred day moving average is $11.88.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $5.12 million for 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%. On average, equities research analysts expect that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 13.3%. Crescent Capital BDC’s payout ratio is currently -1,511.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CCAP. Oppenheimer lowered 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 report on Friday, May 15th. Wall Street Zen downgraded 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 on the stock in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods reiterated 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. Finally, Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.10.

Institutional Trading of Crescent Capital BDC

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Crescent Capital BDC during the fourth quarter valued at approximately $27,000. Rockefeller Capital Management L.P. acquired a new position in Crescent Capital BDC in the fourth quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new position in Crescent Capital BDC in the second quarter valued at approximately $60,000. VPR Management LLC boosted its position in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in Crescent Capital BDC in the 2nd quarter worth approximately $111,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

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.