Bulldog Investors LLP Increases Holdings in Crescent Capital BDC, Inc. $CCAP

Bulldog Investors LLP increased its stake in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 50.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 437,518 shares of the company’s stock after purchasing an additional 147,135 shares during the period. Crescent Capital BDC accounts for 1.5% of Bulldog Investors LLP’s investment portfolio, making the stock its 17th largest position. Bulldog Investors LLP owned about 1.18% of Crescent Capital BDC worth $6,239,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of Crescent Capital BDC by 7.0% in the third quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock worth $7,707,000 after buying an additional 35,534 shares in the last quarter. Ares Management LLC grew its stake in Crescent Capital BDC by 10.0% during the second quarter. Ares Management LLC now owns 516,409 shares of the company’s stock valued at $7,281,000 after acquiring an additional 46,836 shares in the last quarter. North Ground Capital increased its holdings in Crescent Capital BDC by 34.4% during the 3rd quarter. North Ground Capital now owns 418,000 shares of the company’s stock worth $5,961,000 after acquiring an additional 107,000 shares during the period. Almitas Capital LLC increased its holdings in Crescent Capital BDC by 8.2% during the 3rd quarter. Almitas Capital LLC now owns 376,461 shares of the company’s stock worth $5,368,000 after acquiring an additional 28,446 shares during the period. Finally, Condor Capital Management lifted its stake in Crescent Capital BDC by 6.2% in the 3rd quarter. Condor Capital Management now owns 326,859 shares of the company’s stock worth $4,661,000 after purchasing an additional 19,121 shares in the last quarter. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Trading Up 1.1%

Shares of Crescent Capital BDC stock opened at $12.82 on Friday. Crescent Capital BDC, Inc. has a 1 year low of $12.56 and a 1 year high of $17.97. The firm has a market cap of $473.35 million, a PE ratio of 13.64 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50 day simple moving average of $13.91 and a two-hundred day simple moving average of $14.34.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $19.05 million during the quarter, compared to analysts’ expectations of $39.83 million. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. Analysts expect that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.42 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.68 annualized dividend and a yield of 13.1%. Crescent Capital BDC’s payout ratio is 178.72%.

Wall Street Analyst Weigh In

CCAP has been the subject of several analyst reports. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Wells Fargo & Company decreased their price target on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Finally, Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Crescent Capital BDC presently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

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.