Crescent Capital BDC, Inc. (NASDAQ:CCAP – Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the sale, the insider directly owned 3,680,307 shares in the company, valued at $37,649,540.61. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Tuesday, September 8th, & Guaranty Life Insur Fidelity sold 126,436 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.33, for a total transaction of $1,306,083.88.
- 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 stock was 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 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
CCAP traded down $0.06 during trading on Wednesday, hitting $10.23. The company’s stock had a trading volume of 510,129 shares, compared to its average volume of 226,861. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC, Inc. has a twelve month low of $10.16 and a twelve month high of $15.86. The business’s fifty day simple moving average is $10.95 and its 200 day simple moving average is $11.88. The firm has a market capitalization of $376.93 million, a price-to-earnings ratio of -113.67 and a beta of 0.52.
Crescent Capital BDC Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 13.3%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on CCAP shares. Oppenheimer cut shares of 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. LADENBURG THALM/SH SH cut 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 research note on Wednesday, August 12th. Keefe, Bruyette & Woods reissued 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. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, B. Riley Financial decreased their price target on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Crescent Capital BDC presently has an average rating of “Hold” and an average target price of $13.10.
Read Our Latest Analysis on CCAP
Institutional Trading of Crescent Capital BDC
Several large investors have recently made changes to their positions in CCAP. Engineers Gate Manager LP purchased a new position in Crescent Capital BDC in the 2nd quarter valued at $114,000. Integrated Wealth Concepts LLC acquired a new stake in Crescent Capital BDC during the 2nd quarter worth $60,000. HighTower Advisors LLC grew its holdings in shares of Crescent Capital BDC by 7.7% during the second quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock worth $1,414,000 after buying an additional 9,286 shares in the last quarter. Rivernorth Capital Management LLC purchased a new stake in shares of Crescent Capital BDC during the second quarter worth $7,675,000. Finally, Beach Point Capital Management LP acquired a new stake in shares of Crescent Capital BDC in the second quarter valued at about $402,042. 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.
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