Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder & Guaranty Life Insur Fidelity Sells 126,436 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 126,436 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $10.33, for a total transaction of $1,306,083.88. Following the sale, the insider directly owned 3,819,361 shares of the company’s stock, valued at $39,453,999.13. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 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 Wednesday, September 9th, & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.23, for a total transaction of $1,422,522.42.
• 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 value of $108,793.69.
• On Thursday, September 3rd, & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.34, for a total value 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 stock was 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 stock was 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 shares were 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 shares were 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

Shares of CCAP stock opened at $10.23 on Thursday. Crescent Capital BDC, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $15.86. The firm has a market capitalization of $376.98 million, a price-to-earnings ratio of -113.67 and a beta of 0.52. 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 stock’s 50-day simple moving average is $10.94 and its 200-day simple moving average is $11.86.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $5.12 million during the quarter, compared to analysts’ expectations of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. As a group, equities analysts forecast 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 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 13.3%. Crescent Capital BDC’s dividend payout ratio is presently -1,511.11%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CCAP shares. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH reduced their target price on 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 reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. B. Riley Financial dropped their price target on 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. Finally, 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 note on Friday, May 15th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.10.

Institutional Trading of Crescent Capital BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC in the fourth quarter worth $27,000. Rockefeller Capital Management L.P. acquired a new position in Crescent Capital BDC during the fourth quarter valued at $35,000. Integrated Wealth Concepts LLC purchased a new stake in Crescent Capital BDC in the second quarter valued at $60,000. VPR Management LLC boosted its holdings in Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in Crescent Capital BDC during the 2nd quarter worth about $111,000. Institutional investors and hedge funds 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.