& Guaranty Life Insur Fidelity Sells 10,471 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 10,471 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $10.39, for a total transaction of $108,793.69. Following the sale, the insider directly owned 3,945,797 shares in the company, valued at $40,996,830.83. The trade was a 0.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large 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 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 value 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 value of $469,800.00.
• On Tuesday, September 1st, & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.50, for a total value 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 value of $424,800.00.
• On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The stock was 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 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 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 NASDAQ CCAP traded down $0.01 during midday trading on Tuesday, hitting $10.36. 258,266 shares of the company’s stock were exchanged, compared to its average volume of 223,706. Crescent Capital BDC, Inc. has a 12-month low of $10.26 and a 12-month high of $15.92. 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 company has a market cap of $381.62 million, a price-to-earnings ratio of -114.67 and a beta of 0.52. The business’s fifty day moving average price is $10.97 and its two-hundred day moving average price is $11.90.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The company had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. As a group, research analysts forecast that Crescent Capital BDC, Inc. will post 1.51 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.1%. Crescent Capital BDC’s dividend payout ratio is presently -1,511.11%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CCAP. HighTower Advisors LLC boosted its stake in shares of Crescent Capital BDC by 7.7% in the 2nd quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock valued at $1,414,000 after purchasing an additional 9,286 shares in the last quarter. Rivernorth Capital Management LLC bought a new stake in Crescent Capital BDC in the second quarter worth $7,675,000. Beach Point Capital Management LP bought a new stake in Crescent Capital BDC in the second quarter worth $402,042. Van ECK Associates Corp boosted its position in Crescent Capital BDC by 3.7% during the second quarter. Van ECK Associates Corp now owns 165,366 shares of the company’s stock valued at $1,806,000 after buying an additional 5,936 shares during the period. Finally, Beacon Pointe Advisors LLC purchased a new stake in Crescent Capital BDC during the second quarter valued at about $111,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCAP shares. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $19.00 to $16.00 in a research note on Friday, May 15th. B. Riley Financial lowered their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. LADENBURG THALM/SH SH dropped their price target on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.