Beverly Hills Private Wealth LLC Invests $908,000 in Crescent Capital BDC, Inc. $CCAP

Beverly Hills Private Wealth LLC purchased a new stake in Crescent Capital BDC, Inc. (NASDAQ:CCAP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 83,161 shares of the company’s stock, valued at approximately $908,000.

A number of other institutional investors have also recently modified their holdings of CCAP. Royal Bank of Canada grew its holdings in Crescent Capital BDC by 3.6% during the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after acquiring an additional 2,128 shares during the period. XTX Topco Ltd acquired a new stake in Crescent Capital BDC in the second quarter valued at $165,000. Quantbot Technologies LP acquired a new stake in Crescent Capital BDC in the second quarter valued at $219,000. Invesco Ltd. boosted its position in shares of Crescent Capital BDC by 31.4% during the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after purchasing an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter worth $286,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCAP. B. Riley Financial lowered their price target on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Keefe, Bruyette & Woods lowered their target price on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company dropped their target price on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.30.

Insider Activity

In other Crescent Capital BDC news, CEO Jason Breaux bought 5,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $11.19 per share, for a total transaction of $55,950.00. Following the acquisition, the chief executive officer owned 52,636 shares of the company’s stock, valued at $588,996.84. The trade was a 10.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Henry Chung bought 4,500 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were acquired at an average price of $11.45 per share, with a total value of $51,525.00. Following the completion of the acquisition, the president directly owned 20,722 shares in the company, valued at $237,266.90. This represents a 27.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.23% of the stock is owned by insiders.

Crescent Capital BDC Stock Performance

Shares of CCAP stock opened at $11.15 on Monday. The stock has a fifty day moving average price of $11.15 and a 200 day moving average price of $12.31. 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 has a market cap of $410.88 million, a PE ratio of -123.89 and a beta of 0.52. Crescent Capital BDC, Inc. has a 1 year low of $10.64 and a 1 year high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last posted its 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 firm had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.34 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 12.2%. Crescent Capital BDC’s payout ratio is currently -1,511.11%.

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.