Gerhard Lombard Purchases 2,000 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) CFO Gerhard Lombard acquired 2,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $10.91 per share, for a total transaction of $21,820.00. Following the transaction, the chief financial officer directly owned 40,509 shares of the company’s stock, valued at approximately $441,953.19. The trade was a 5.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Crescent Capital BDC Trading Down 1.2%

Shares of NASDAQ CCAP traded down $0.13 during mid-day trading on Thursday, reaching $10.68. The company had a trading volume of 201,604 shares, compared to its average volume of 223,032. Crescent Capital BDC, Inc. has a 52 week low of $10.64 and a 52 week high of $16.03. The stock has a market cap of $393.56 million, a price-to-earnings ratio of -118.67 and a beta of 0.52. The business’s 50-day moving average is $11.13 and its 200-day moving average is $12.24. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41.

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

Crescent Capital BDC Announces Dividend

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

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC during the fourth quarter worth $27,000. Rockefeller Capital Management L.P. purchased a new stake in Crescent Capital BDC during the fourth quarter worth approximately $35,000. VPR Management LLC grew its stake in shares of Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after buying an additional 3,000 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in shares of Crescent Capital BDC during the second quarter worth $111,000. Finally, Beaumont Financial Advisors LLC purchased a new position in Crescent Capital BDC in the 1st quarter valued at about $127,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CCAP shares. B. Riley Financial cut their price objective on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. LADENBURG THALM/SH SH cut their target price 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.