Riverbridge Partners LLC Invests $1.33 Million in Crescent Capital BDC, Inc. $CCAP

Riverbridge Partners LLC bought a new position in Crescent Capital BDC, Inc. (NASDAQ:CCAP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 94,358 shares of the company’s stock, valued at approximately $1,326,000.

A number of other institutional investors have also recently bought and sold shares of CCAP. Silverberg Bernstein Capital Management LLC raised its stake in Crescent Capital BDC by 18.6% during the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 28,060 shares of the company’s stock worth $394,000 after purchasing an additional 4,400 shares during the period. Alpine Global Management LLC acquired a new position in shares of Crescent Capital BDC in the 3rd quarter valued at $3,137,000. Icon Advisers Inc. Co. grew its stake in shares of Crescent Capital BDC by 91.2% during the 3rd quarter. Icon Advisers Inc. Co. now owns 133,816 shares of the company’s stock valued at $1,908,000 after buying an additional 63,843 shares during the period. VPR Management LLC grew 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 valued at $71,000 after buying an additional 3,000 shares during the period. Finally, Permanens Capital L.P. acquired a new stake in shares of Crescent Capital BDC during the 3rd quarter worth $147,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Capital BDC Trading Down 2.4%

Shares of CCAP stock opened at $12.31 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. Crescent Capital BDC, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $17.78. The firm’s 50 day moving average price is $13.58 and its two-hundred day moving average price is $14.15. The stock has a market cap of $454.49 million, a price-to-earnings ratio of 13.10 and a beta of 0.57.

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

Crescent Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Crescent Capital BDC’s dividend payout ratio is 178.72%.

Wall Street Analyst Weigh In

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

Crescent Capital BDC 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.