ICG Advisors LLC Purchases New Stake in Crescent Capital BDC, Inc. $CCAP

ICG Advisors LLC acquired a new position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 91,355 shares of the company’s stock, valued at approximately $1,284,000. Crescent Capital BDC makes up approximately 4.3% of ICG Advisors LLC’s holdings, making the stock its 4th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Crescent Capital BDC by 3.6% during the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after buying an additional 2,128 shares in the last quarter. XTX Topco Ltd bought a new position in Crescent Capital BDC in the 2nd quarter valued at approximately $165,000. Quantbot Technologies LP bought a new stake in shares of Crescent Capital BDC during the second quarter worth $219,000. Invesco Ltd. increased its stake in shares of Crescent Capital BDC by 31.4% in the second quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after buying an additional 9,180 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at $286,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Price Performance

CCAP opened at $13.50 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $499.10 million, a P/E ratio of 14.36 and a beta of 0.55. The stock has a 50-day moving average price of $13.01 and a 200-day moving average price of $13.83. Crescent Capital BDC, Inc. has a 12-month low of $11.80 and a 12-month high of $17.02.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. The business had revenue of $19.05 million during the quarter, compared to analyst estimates of $39.83 million. Equities analysts predict that Crescent Capital BDC, Inc. will post 1.63 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 12.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Crescent Capital BDC’s payout ratio is currently 178.72%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. B. Riley Financial initiated coverage on Crescent Capital BDC in a research note on Monday, March 30th. They set a “neutral” rating and a $13.50 target price on the stock. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Wells Fargo & Company reduced their target price on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Crescent Capital BDC has an average rating of “Moderate Buy” and an average target price of $15.50.

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.