Insider Selling: Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $1,306,083.88 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 126,436 shares of Crescent Capital BDC stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $10.33, for a total transaction of $1,306,083.88. Following the completion of the transaction, the insider directly owned 3,819,361 shares in the company, valued at approximately $39,453,999.13. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sales and purchases with the SEC.

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

• On Wednesday, September 9th, & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.23, for a total transaction of $1,422,522.42.
• On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The stock was 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 shares were 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 shares were 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 stock was sold at an average price of $10.62, for a total value 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 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 stock was sold at an average price of $10.60, for a total value of $340,164.60.

Crescent Capital BDC Price Performance

Shares of CCAP stock opened at $9.92 on Friday. The firm has a market cap of $365.51 million, a P/E ratio of -110.22 and a beta of 0.52. Crescent Capital BDC, Inc. has a fifty-two week low of $9.88 and a fifty-two week high of $15.86. The business’s 50 day moving average price is $10.89 and its 200-day moving average price is $11.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30.

Crescent Capital BDC (NASDAQ:CCAP) last announced its 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 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%. On average, equities research analysts anticipate that Crescent Capital BDC, Inc. will post 1.49 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 13.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several analysts have commented on CCAP shares. 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 report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. LADENBURG THALM/SH SH dropped 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, Wells Fargo & Company reduced their price target 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. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Crescent Capital BDC has an average rating of “Hold” and an average price target of $12.62.

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.