Crescent Capital BDC (NASDAQ:CCAP) President Buys $27,225.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the completion of the transaction, the president owned 23,917 shares in the company, valued at $260,456.13. This trade represents a 11.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Crescent Capital BDC Stock Performance

Shares of CCAP stock opened at $10.71 on Monday. The business has a fifty day moving average of $11.11 and a 200 day moving average of $12.18. Crescent Capital BDC, Inc. has a 1 year low of $10.59 and a 1 year high of $16.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $394.66 million, a price-to-earnings ratio of -119.00 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last posted 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). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $37.12 million. As a group, research analysts expect that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 12.7%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is -1,511.11%.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds have recently bought and sold shares of CCAP. Ieq Capital LLC grew its holdings in Crescent Capital BDC by 3.0% in the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after purchasing an additional 746 shares during the period. Mariner LLC raised its stake in shares of Crescent Capital BDC by 0.3% during 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 period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Crescent Capital BDC during the 4th quarter valued at approximately $27,000. LMG Wealth Partners LLC lifted its position in shares of Crescent Capital BDC by 17.8% during the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock valued at $165,000 after buying an additional 2,048 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Crescent Capital BDC by 20.2% in the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock valued at $173,000 after acquiring an additional 2,066 shares during the period. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Wells Fargo & Company reduced 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. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Oppenheimer downgraded 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. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.10.

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.