Insider Selling: Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $1,422,522.42 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total value of $1,422,522.42. Following the sale, the insider owned 3,680,307 shares of the company’s stock, valued at approximately $37,649,540.61. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more 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 Tuesday, September 8th, & Guaranty Life Insur Fidelity sold 126,436 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.33, for a total transaction of $1,306,083.88.
• On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.39, for a total transaction of $108,793.69.
• On Thursday, September 3rd, & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.34, for a total transaction of $51,813.74.
• On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.44, for a total transaction of $469,800.00.
• On Tuesday, September 1st, & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.50, for a total transaction of $118,492.50.
• On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The shares were 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 shares were sold at an average price of $10.60, for a total transaction 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 transaction 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 Trading Down 0.1%

Shares of NASDAQ:CCAP opened at $9.92 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $365.51 million, a PE ratio of -110.22 and a beta of 0.52. Crescent Capital BDC, Inc. has a 1 year low of $9.88 and a 1 year high of $15.86. The firm has a fifty day moving average price of $10.89 and a 200 day moving average price of $11.82.

Crescent Capital BDC (NASDAQ:CCAP) last posted its 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). The company had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Analysts expect that Crescent Capital BDC, Inc. will post 1.49 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.7%. 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 institutional investors have recently bought and sold shares of CCAP. BlackRock Inc. acquired a new stake in shares of Crescent Capital BDC in the second quarter valued at approximately $1,361,000. Fidelity National Financial Inc. acquired a new position in Crescent Capital BDC during the second quarter worth $45,922,000. Closed End Fund Advisors Inc. bought a new position in Crescent Capital BDC in the fourth quarter valued at $3,166,000. North Ground Capital bought a new position in Crescent Capital BDC in the second quarter valued at $5,687,136. Finally, Rivernorth Capital Management LLC acquired a new stake in Crescent Capital BDC in the 2nd quarter valued at $7,675,000. Institutional investors own 49.46% of the company’s stock.

Analysts Set New Price Targets

CCAP has been the subject of a number of analyst reports. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. B. Riley Financial dropped 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 report on Wednesday, August 12th. Keefe, Bruyette & Woods reissued 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, August 17th. Bank of America restated a “neutral” rating and issued a $10.25 price objective (down from $13.00) on shares of Crescent Capital BDC in a research report on Thursday. Finally, Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Crescent Capital BDC presently has a consensus rating of “Hold” and a consensus price target of $12.62.

About Crescent Capital BDC

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.