& Guaranty Life Insur Fidelity Sells 15,000 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 15,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $10.60, for a total value of $159,000.00. Following the transaction, the insider directly owned 4,057,564 shares of the company’s stock, valued at $43,010,178.40. This represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 shares are required to disclose their transactions with the SEC.

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

• 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 transaction of $424,800.00.
• 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 transaction of $288,267.00.
• On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total transaction of $340,164.60.

Crescent Capital BDC Trading Down 0.8%

NASDAQ:CCAP opened at $10.40 on Thursday. The firm has a market capitalization of $383.24 million, a P/E ratio of -115.56 and a beta of 0.52. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. Crescent Capital BDC, Inc. has a one year low of $10.38 and a one year high of $16.03. The company’s 50-day simple moving average is $11.01 and its 200 day simple moving average is $11.98.

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). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The business had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $37.12 million. As a group, 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 disclosed 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 13.1%. Crescent Capital BDC’s payout ratio is presently -1,511.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CCAP shares. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH decreased their target price on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company dropped their target price on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.10.

Institutional Trading of Crescent Capital BDC

A number of hedge funds have recently bought and sold shares of CCAP. Royal Bank of Canada boosted its position in Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after purchasing an additional 2,128 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at about $165,000. Quantbot Technologies LP purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at about $219,000. Invesco Ltd. lifted its stake in shares of Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after purchasing an additional 9,180 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Crescent Capital BDC in the 2nd quarter worth approximately $286,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

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.