Insider Selling: Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $340,164.60 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $10.60, for a total transaction of $340,164.60. Following the completion of the sale, the insider directly owned 4,099,759 shares in the company, valued at approximately $43,457,445.40. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 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, 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 transaction of $288,267.00.

Crescent Capital BDC Price Performance

Shares of NASDAQ:CCAP opened at $10.54 on Monday. 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. Crescent Capital BDC, Inc. has a 52 week low of $10.50 and a 52 week high of $16.03. The company has a 50-day moving average price of $11.05 and a 200 day moving average price of $12.06.

Crescent Capital BDC (NASDAQ:CCAP) last released its earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $5.12 million for the quarter, compared to analyst estimates of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. 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. Investors of record on Wednesday, September 30th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is currently -1,511.11%.

Wall Street Analyst Weigh In

A number of research firms have commented on CCAP. LADENBURG THALM/SH SH reduced their target price on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Wells Fargo & Company cut their price target on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. 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 research note on Monday, August 17th. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Oppenheimer lowered shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Crescent Capital BDC currently has a consensus rating of “Hold” and a consensus price target of $13.10.

Institutional Trading of Crescent Capital BDC

A number of institutional investors have recently bought and sold shares of CCAP. Fidelity National Financial Inc. acquired a new position in shares of Crescent Capital BDC during the 2nd quarter worth $45,922,000. Closed End Fund Advisors Inc. acquired a new stake in Crescent Capital BDC in the 4th quarter valued at about $3,166,000. North Ground Capital purchased a new position in Crescent Capital BDC during the 2nd quarter valued at about $5,687,136. Alpine Global Management LLC increased its holdings in Crescent Capital BDC by 82.6% during the 4th quarter. Alpine Global Management LLC now owns 401,756 shares of the company’s stock valued at $5,645,000 after acquiring an additional 181,756 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC acquired a new position in Crescent Capital BDC during the second quarter worth about $908,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

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.