& Guaranty Life Insur Fidelity Sells 40,000 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $10.62, for a total value of $424,800.00. Following the transaction, the insider owned 4,017,564 shares in the company, valued at $42,666,529.68. This represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 value of $159,000.00.
• On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total value of $288,267.00.
• On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total transaction of $340,164.60.

Crescent Capital BDC Stock Performance

Shares of CCAP traded down $0.07 during mid-day trading on Tuesday, reaching $10.54. 84,068 shares of the company’s stock were exchanged, compared to its average volume of 222,551. The business’s fifty day simple moving average is $11.04 and its 200-day simple moving average is $12.03. The stock has a market capitalization of $388.58 million, a PE ratio of -117.34 and a beta of 0.52. Crescent Capital BDC, Inc. has a 52-week low of $10.42 and a 52-week 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.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. On average, equities research 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. Shareholders 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 yield of 12.9%. Crescent Capital BDC’s payout ratio is currently -1,511.11%.

Institutional Investors Weigh In On Crescent Capital BDC

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Crescent Capital BDC in the 4th quarter valued at approximately $27,000. Rockefeller Capital Management L.P. acquired a new position in Crescent Capital BDC during the 4th quarter worth approximately $35,000. VPR Management LLC raised its stake in shares of Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after buying an additional 3,000 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at approximately $111,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in shares of Crescent Capital BDC in the 1st quarter valued at approximately $127,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCAP. B. Riley Financial decreased their target price on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods reaffirmed 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. Oppenheimer cut 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 research report on Friday, May 15th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, LADENBURG THALM/SH SH dropped their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.