Crescent Capital BDC (NASDAQ:CCAP) President Henry Chung Purchases 2,500 Shares

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the completion of the transaction, the president owned 23,917 shares of the company’s stock, valued at $260,456.13. This represents a 11.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Crescent Capital BDC Trading Up 0.3%

Shares of CCAP opened at $10.71 on Friday. The stock’s 50-day moving average price is $11.11 and its 200 day moving average price is $12.20. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $394.66 million, a price-to-earnings ratio of -119.00 and a beta of 0.52. Crescent Capital BDC, Inc. has a 12-month low of $10.59 and a 12-month high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $5.12 million during the quarter, compared to the consensus estimate 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, research analysts predict 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. Stockholders 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 dividend yield of 12.7%. Crescent Capital BDC’s dividend payout ratio is currently -1,511.11%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. B. Riley Financial cut their price objective on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Wall Street Zen lowered shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price target for the company from $19.00 to $16.00 in a report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crescent Capital BDC has a consensus rating of “Hold” and an average price target of $13.10.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors have recently modified their holdings of CCAP. Fidelity National Financial Inc. bought a new position in Crescent Capital BDC during the second quarter worth about $45,922,000. North Ground Capital boosted its stake in Crescent Capital BDC by 99.8% during the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after acquiring an additional 417,312 shares during the last quarter. Rivernorth Capital Management LLC acquired a new position in Crescent Capital BDC during the second quarter valued at approximately $7,675,000. Invesco Ltd. increased its stake in Crescent Capital BDC by 1,504.9% in the fourth quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after purchasing an additional 618,590 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Crescent Capital BDC by 7.0% in the third quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after purchasing an additional 35,534 shares in the last quarter. Institutional investors and hedge funds own 49.46% of the company’s stock.

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.