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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 11,285 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $10.50, for a total transaction of $118,492.50. Following the sale, the insider owned 4,006,279 shares in the company, valued at $42,065,929.50. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $10.44, for a total transaction of $469,800.00.
• On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The stock was 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 stock was 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 shares were sold at an average price of $10.60, for a total value of $340,164.60.

Crescent Capital BDC Stock Performance

NASDAQ CCAP opened at $10.37 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC, Inc. has a twelve month low of $10.26 and a twelve month high of $16.03. The business has a 50-day moving average price of $10.98 and a 200-day moving average price of $11.94. The firm has a market cap of $382.13 million, a price-to-earnings ratio of -115.22 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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 positive return on equity of 9.02% and a negative net margin of 2.02%. As a group, equities research analysts predict that Crescent Capital BDC, Inc. will post 1.51 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 13.1%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is presently -1,511.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CCAP. Ieq Capital LLC increased its stake in Crescent Capital BDC by 3.0% during the 4th quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock worth $358,000 after buying an additional 746 shares in the last quarter. Mariner LLC lifted its stake in shares of Crescent Capital BDC by 0.3% in the fourth quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after buying an additional 1,492 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Crescent Capital BDC during the fourth quarter worth about $27,000. LMG Wealth Partners LLC boosted its position in Crescent Capital BDC by 17.8% during the first quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after acquiring an additional 2,048 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in Crescent Capital BDC by 20.2% during the fourth quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after acquiring an additional 2,066 shares during the last quarter. 49.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CCAP. B. Riley Financial cut their target price on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $19.00 to $16.00 in a report on Friday, May 15th. Wells Fargo & Company cut their price objective on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. LADENBURG THALM/SH SH reduced their price target on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock 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.