Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder & Guaranty Life Insur Fidelity Sells 27,195 Shares

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 27,195 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $10.60, for a total value of $288,267.00. Following the completion of the sale, the insider directly owned 4,072,564 shares of the company’s stock, valued at approximately $43,169,178.40. This represents a 0.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 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, 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 value of $340,164.60.

Crescent Capital BDC Stock Performance

CCAP opened at $10.54 on Friday. Crescent Capital BDC, Inc. has a 52-week low of $10.50 and a 52-week high of $16.03. 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 company has a market cap of $388.40 million, a P/E ratio of -117.11 and a beta of 0.52. The firm’s 50-day moving average price is $11.05 and its 200-day moving average price is $12.07.

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 the consensus estimate of $0.37 by ($0.01). The company had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. As a group, equities analysts anticipate 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. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 12.9%. Crescent Capital BDC’s dividend payout ratio is presently -1,511.11%.

Hedge Funds Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fidelity National Financial Inc. purchased a new stake in shares of Crescent Capital BDC in the second quarter worth about $45,922,000. Rivernorth Capital Management LLC purchased a new position in Crescent Capital BDC during the second quarter valued at approximately $7,675,000. Invesco Ltd. lifted its holdings 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 acquiring an additional 618,590 shares during the period. North Ground Capital acquired a new position in Crescent Capital BDC in the second quarter valued at approximately $5,687,136. Finally, Focus Partners Wealth purchased a new stake in Crescent Capital BDC in the 4th quarter worth approximately $5,476,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Wells Fargo & Company reduced their target price on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. 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 reduced their price objective on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Finally, Wall Street Zen downgraded Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.10.

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.