North Ground Capital Acquires Shares of 520,800 Crescent Capital BDC, Inc. $CCAP

North Ground Capital acquired a new position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 520,800 shares of the company’s stock, valued at approximately $5,687,136,000. Crescent Capital BDC makes up about 6.8% of North Ground Capital’s investment portfolio, making the stock its 5th biggest position.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $27,000. Rockefeller Capital Management L.P. acquired a new position in Crescent Capital BDC during the 4th quarter worth approximately $35,000. VPR Management LLC boosted its holdings in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the period. Beaumont Financial Advisors LLC acquired a new stake in Crescent Capital BDC in the first quarter valued at approximately $127,000. Finally, Permanens Capital L.P. acquired a new stake in Crescent Capital BDC in the third quarter valued at approximately $147,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Insider Transactions at Crescent Capital BDC

In other news, President Henry Chung acquired 2,500 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $10.89 per share, for a total transaction of $27,225.00. Following the completion of the purchase, the president directly owned 23,917 shares of the company’s stock, valued at $260,456.13. This represents a 11.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. LADENBURG THALM/SH SH reduced their target price on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. 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 report on Wednesday, August 12th. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.10.

Crescent Capital BDC Price Performance

CCAP stock opened at $10.71 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The firm has a 50 day simple moving average of $11.11 and a 200-day simple moving average of $12.18. The company has a market capitalization of $394.66 million, a P/E ratio of -119.00 and a beta of 0.52. Crescent Capital BDC, Inc. has a twelve month low of $10.59 and a twelve month high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly 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 company had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 12.7%. Crescent Capital BDC’s payout ratio is presently -1,511.11%.

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.