Crescent Capital BDC (NASDAQ:CCAP) President Acquires $51,525.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung bought 4,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the acquisition, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This represents a 27.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Crescent Capital BDC Stock Down 0.6%

Shares of CCAP stock traded down $0.07 during mid-day trading on Friday, reaching $11.37. 184,154 shares of the company’s stock traded hands, compared to its average volume of 214,146. Crescent Capital BDC, Inc. has a 12 month low of $10.92 and a 12 month high of $16.03. The company has a market cap of $418.98 million, a P/E ratio of 27.73 and a beta of 0.59. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $12.79 and its 200-day moving average price is $13.67.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The firm had revenue of ($6.84) million for the quarter, compared to analysts’ expectations of $39.58 million. On average, equities 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 firm also recently announced a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $0.03 per share. This represents a dividend yield of 107.0%. The ex-dividend date is Monday, November 30th. Crescent Capital BDC’s payout ratio is 409.76%.

Institutional Trading of Crescent Capital BDC

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cobblestone Capital Advisors LLC NY increased its stake in Crescent Capital BDC by 1.3% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 58,783 shares of the company’s stock valued at $838,000 after purchasing an additional 741 shares in the last quarter. Ieq Capital LLC increased its stake in Crescent Capital BDC by 3.0% during the 4th quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after purchasing an additional 746 shares in the last quarter. Mariner LLC raised its position in Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after buying an additional 1,492 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Crescent Capital BDC in the 4th quarter worth about $27,000. Finally, LMG Wealth Partners LLC raised its position in Crescent Capital BDC by 17.8% in 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 during the last quarter. 49.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CCAP. Zacks Research cut shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday. Keefe, Bruyette & Woods lowered their price target 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. Wells Fargo & Company cut their price objective on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Wall Street Zen lowered shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, LADENBURG THALM/SH SH reduced their price objective on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.