Crescent Capital BDC (NASDAQ:CCAP) President Henry Chung Buys 4,500 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung bought 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the acquisition, the president directly owned 20,722 shares in the company, valued at $237,266.90. This trade represents a 27.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Crescent Capital BDC Stock Performance

Crescent Capital BDC stock opened at $11.37 on Friday. The firm’s 50 day simple moving average is $12.76 and its 200 day simple moving average is $13.65. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $418.98 million, a PE ratio of 27.73 and a beta of 0.59. Crescent Capital BDC, Inc. has a 1-year low of $10.92 and a 1-year high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of ($6.84) million for the quarter, compared to analyst estimates of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. As a group, analysts expect that Crescent Capital BDC, Inc. will post 1.39 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a dividend of $0.03 per share. This represents a yield of 107.0%. The ex-dividend date of this dividend is Monday, November 30th. Crescent Capital BDC’s dividend payout ratio is 409.76%.

Hedge Funds Weigh In On Crescent Capital BDC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alpine Global Management LLC purchased a new position in Crescent Capital BDC in the 3rd quarter worth approximately $3,137,000. Bulldog Investors LLP grew its stake in Crescent Capital BDC by 50.7% in the 3rd quarter. Bulldog Investors LLP now owns 437,518 shares of the company’s stock worth $6,239,000 after buying an additional 147,135 shares in the last quarter. ICG Advisors LLC purchased a new stake in shares of Crescent Capital BDC in the 4th quarter valued at $1,284,000. Riverbridge Partners LLC purchased a new stake in shares of Crescent Capital BDC in the 4th quarter valued at $1,326,000. Finally, Adams Asset Advisors LLC boosted its stake in shares of Crescent Capital BDC by 352.6% in the 4th quarter. Adams Asset Advisors LLC now owns 79,828 shares of the company’s stock valued at $1,122,000 after purchasing an additional 62,189 shares in the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company decreased their target price on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th. Zacks Research lowered shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Finally, Oppenheimer cut shares of 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 note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.30.

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.