& 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 Crescent Capital BDC stock in a transaction dated 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 directly owned 3,961,279 shares in the company, valued at $41,355,752.76. This represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 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 Trading Down 0.8%

NASDAQ CCAP opened at $10.37 on Friday. Crescent Capital BDC, Inc. has a 52 week low of $10.26 and a 52 week high of $16.03. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s 50 day moving average price is $10.98 and its two-hundred day moving average price is $11.94. The stock has a market capitalization of $382.13 million, a price-to-earnings ratio of -115.22 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. As a group, analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 earnings per share 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. Shareholders of record on Wednesday, September 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 13.1%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s payout ratio is presently -1,511.11%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. 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 report on Friday, May 15th. Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. LADENBURG THALM/SH SH dropped 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. B. Riley Financial reduced their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.10.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its position in shares of Crescent Capital BDC by 7.7% in the 2nd quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock valued at $1,414,000 after acquiring an additional 9,286 shares during the period. Rivernorth Capital Management LLC acquired a new stake in Crescent Capital BDC in the 2nd quarter valued at about $7,675,000. Beach Point Capital Management LP bought a new position in Crescent Capital BDC during the second quarter worth about $402,042. Van ECK Associates Corp grew its holdings in Crescent Capital BDC by 3.7% during the second 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 during the period. Finally, Beacon Pointe Advisors LLC bought a new position in Crescent Capital BDC during the second quarter worth about $111,000. 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.