FTB Advisors Inc. Boosts Position in Corporate Capital Trust Inc (CCT)
FTB Advisors Inc. boosted its position in shares of Corporate Capital Trust Inc (NYSE:CCT) by 238.9% in the third quarter, Holdings Channel reports. The fund owned 5,758 shares of the company’s stock after purchasing an additional 4,059 shares during the quarter. FTB Advisors Inc.’s holdings in Corporate Capital Trust were worth $320,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of CCT. Wells Fargo & Company MN increased its position in Corporate Capital Trust by 3,249.7% during the first quarter. Wells Fargo & Company MN now owns 47,264 shares of the company’s stock valued at $799,000 after acquiring an additional 45,853 shares during the last quarter. BlackRock Inc. purchased a new stake in Corporate Capital Trust in the first quarter worth about $12,700,000. Russell Investments Group Ltd. purchased a new stake in Corporate Capital Trust in the first quarter worth about $741,000. Millennium Management LLC purchased a new stake in Corporate Capital Trust in the first quarter worth about $3,134,000. Finally, Fisher Asset Management LLC purchased a new stake in Corporate Capital Trust in the second quarter worth about $188,000. Institutional investors own 20.98% of the company’s stock.
CCT has been the subject of a number of analyst reports. Zacks Investment Research upgraded Corporate Capital Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. BMO Capital Markets reduced their price target on Corporate Capital Trust from $17.00 to $16.61 and set a “market perform” rating for the company in a research report on Tuesday, August 14th. Wells Fargo & Co cut Corporate Capital Trust from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 4th. Finally, ValuEngine cut Corporate Capital Trust from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.15.
Corporate Capital Trust (NYSE:CCT) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The company had revenue of $103.86 million during the quarter, compared to analysts’ expectations of $106.35 million. Corporate Capital Trust had a return on equity of 7.84% and a net margin of 36.12%. As a group, research analysts anticipate that Corporate Capital Trust Inc will post 1.6 earnings per share for the current fiscal year.
In other Corporate Capital Trust news, COO Ryan Wilson acquired 2,500 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was purchased at an average price of $16.30 per share, with a total value of $40,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Arnold acquired 7,500 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average cost of $16.39 per share, with a total value of $122,925.00. The disclosure for this purchase can be found here.
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Corporate Capital Trust Company Profile
Corporate Capital Trust, Inc is a business development company co- sponsored by CNL Fund Advisors Company and KKR Asset Management, LLC. It specializes in senior debt and subordinated debt investments in medium and large sized mature companies. The fund does not invest in start-up companies or companies with speculative business plans.
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