Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder & Guaranty Life Insur Fidelity Sells 11,285 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $10.50, for a total value of $118,492.50. Following the transaction, the insider owned 4,006,279 shares of the company’s stock, valued at approximately $42,065,929.50. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

& Guaranty Life Insur Fidelity also recently made the following trade(s):

• On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.44, for a total value of $469,800.00.
• On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.62, for a total transaction of $424,800.00.
• On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total transaction of $159,000.00.
• On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total transaction 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 transaction of $340,164.60.

Crescent Capital BDC Stock Up 0.5%

CCAP opened at $10.45 on Friday. The company has a fifty day moving average of $11.00 and a two-hundred day moving average of $11.95. The stock has a market capitalization of $385.08 million, a price-to-earnings ratio of -116.11 and a beta of 0.52. Crescent Capital BDC, Inc. has a fifty-two week low of $10.26 and a fifty-two 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.

Crescent Capital BDC (NASDAQ:CCAP) last posted its earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The firm had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $37.12 million. On average, 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 announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.0%. Crescent Capital BDC’s dividend payout ratio (DPR) is -1,511.11%.

Institutional Trading of Crescent Capital BDC

A number of hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC lifted its stake in Crescent Capital BDC by 7.7% in the 2nd quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock worth $1,414,000 after purchasing an additional 9,286 shares in the last quarter. Rivernorth Capital Management LLC acquired a new stake in Crescent Capital BDC during the second quarter worth about $7,675,000. Beach Point Capital Management LP purchased a new position in Crescent Capital BDC during the second quarter worth about $402,042. Van ECK Associates Corp raised its stake 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 acquired a new position in Crescent Capital BDC in the 2nd quarter valued at about $111,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. B. Riley Financial decreased their price objective on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Wells Fargo & Company cut 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 research note on Wednesday, August 12th. LADENBURG THALM/SH SH decreased their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Finally, Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.