Crescent Capital BDC (NASDAQ:CCAP) President Buys $27,225.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the purchase, the president directly owned 23,917 shares in the company, valued at $260,456.13. This trade represents a 11.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crescent Capital BDC Trading Up 0.3%

NASDAQ:CCAP traded up $0.03 on Friday, reaching $10.71. The company’s stock had a trading volume of 224,132 shares, compared to its average volume of 223,062. Crescent Capital BDC, Inc. has a 1-year low of $10.59 and a 1-year high of $16.03. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $394.62 million, a PE ratio of -119.00 and a beta of 0.52. The business’s 50-day moving average price is $11.12 and its two-hundred day moving average price is $12.21.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly 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). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The business had revenue of $5.12 million for the quarter, compared to analyst estimates of $37.12 million. Equities research analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 earnings per share 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. Shareholders of record on Wednesday, September 30th will be paid 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 yield of 12.7%. Crescent Capital BDC’s payout ratio is presently -1,511.11%.

Wall Street Analysts Forecast Growth

CCAP has been the topic of several research reports. B. Riley Financial cut their price objective on shares of 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. Wells Fargo & Company lowered their target price on 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 reissued a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. Finally, Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Crescent Capital BDC has a consensus rating of “Hold” and an average target price of $13.10.

Hedge Funds Weigh In On Crescent Capital BDC

Large investors have recently modified their holdings of the business. Fidelity National Financial Inc. bought a new stake in Crescent Capital BDC during the second quarter worth about $45,922,000. North Ground Capital grew its stake in Crescent Capital BDC by 99.8% in the fourth quarter. North Ground Capital now owns 835,312 shares of the company’s stock valued at $11,736,000 after purchasing an additional 417,312 shares in the last quarter. Rivernorth Capital Management LLC acquired a new position in shares of Crescent Capital BDC during the 2nd quarter worth approximately $7,675,000. Invesco Ltd. raised its stake in shares of Crescent Capital BDC by 1,504.9% during the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock worth $9,269,000 after purchasing an additional 618,590 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Crescent Capital BDC by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock worth $7,707,000 after purchasing an additional 35,534 shares in the last quarter. 49.46% of the stock is currently owned by institutional investors and hedge funds.

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.