Crescent Capital BDC (NASDAQ:CCAP) CFO Gerhard Lombard Buys 2,000 Shares

Crescent Capital BDC, Inc. (NASDAQ:CCAP) CFO Gerhard Lombard acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $10.91 per share, with a total value of $21,820.00. Following the completion of the transaction, the chief financial officer owned 40,509 shares in the company, valued at approximately $441,953.19. The trade was a 5.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP opened at $10.68 on Friday. Crescent Capital BDC, Inc. has a 12 month low of $10.64 and a 12 month high of $16.03. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $393.52 million, a PE ratio of -118.67 and a beta of 0.52. The business’s fifty day moving average price is $11.12 and its 200 day moving average price is $12.21.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data 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 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. On average, sell-side analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

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. This represents a $1.36 annualized dividend and a yield of 12.7%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is currently -1,511.11%.

Institutional Investors Weigh In On Crescent Capital BDC

Several hedge funds have recently modified their holdings of CCAP. Rivernorth Capital Management LLC acquired a new position in Crescent Capital BDC in the 2nd quarter valued at $7,675,000. Beach Point Capital Management LP purchased a new position in Crescent Capital BDC during the second quarter worth about $402,042,000. Van ECK Associates Corp raised its holdings 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 worth $1,806,000 after purchasing an additional 5,936 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in Crescent Capital BDC in the second quarter valued at about $111,000. Finally, Almitas Capital LLC purchased a new stake in Crescent Capital BDC in the 2nd quarter valued at approximately $3,897,000. 49.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Oppenheimer lowered shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Wells Fargo & Company decreased their price objective 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. B. Riley Financial lowered their target price 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. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a report on Monday. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.10.

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.