Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder & Guaranty Life Insur Fidelity Sells 15,000 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 15,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $10.60, for a total value of $159,000.00. Following the completion of the sale, the insider directly owned 4,057,564 shares of the company’s stock, valued at $43,010,178.40. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed 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 more than 10% of a company’s stock are required to disclose their transactions with the SEC.

& Guaranty Life Insur Fidelity also recently made the following trade(s):

• 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 Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The stock was 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 Trading Down 1.3%

Shares of NASDAQ CCAP opened at $10.48 on Wednesday. The firm has a 50-day moving average of $11.02 and a 200 day moving average of $12.00. Crescent Capital BDC, Inc. has a 1 year low of $10.42 and a 1 year high of $16.03. The stock has a market cap of $386.19 million, a P/E ratio of -116.44 and a beta of 0.52. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly 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). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The company had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. As a group, sell-side analysts expect that Crescent Capital BDC, Inc. will post 1.51 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. Stockholders of record on Wednesday, September 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 13.0%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is currently -1,511.11%.

Hedge Funds Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ieq Capital LLC grew its position in shares of Crescent Capital BDC by 3.0% during the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after purchasing an additional 746 shares in the last quarter. Mariner LLC raised its holdings in shares of Crescent Capital BDC by 0.3% during the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after acquiring an additional 1,492 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Crescent Capital BDC during the 4th quarter worth approximately $27,000. LMG Wealth Partners LLC boosted its position in shares of Crescent Capital BDC by 17.8% during the 1st quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock valued at $165,000 after acquiring an additional 2,048 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Crescent Capital BDC by 20.2% during the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock valued at $173,000 after acquiring an additional 2,066 shares during the last quarter. Institutional investors own 49.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CCAP. LADENBURG THALM/SH SH decreased their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Wells Fargo & Company dropped their price target on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Oppenheimer lowered shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, B. Riley Financial reduced 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 report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently 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.