Crescent Capital BDC (NASDAQ:CCAP) CEO Jason Breaux Buys 5,000 Shares

Crescent Capital BDC, Inc. (NASDAQ:CCAP) CEO Jason Breaux purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $11.19 per share, with a total value of $55,950.00. Following the completion of the acquisition, the chief executive officer directly owned 52,636 shares of the company’s stock, valued at $588,996.84. This trade represents a 10.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP traded up $0.14 during trading hours on Thursday, reaching $11.44. The company had a trading volume of 214,002 shares, compared to its average volume of 214,456. Crescent Capital BDC, Inc. has a 1-year low of $10.92 and a 1-year high of $16.03. The firm has a market cap of $421.56 million, a PE ratio of 27.90 and a beta of 0.59. The business’s 50 day moving average price is $12.82 and its 200-day moving average price is $13.69. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of ($6.84) million during the quarter, compared to the consensus estimate of $39.58 million. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%. Research analysts forecast that Crescent Capital BDC, Inc. will post 1.39 EPS for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, November 30th. This represents a dividend yield of 107.0%. Crescent Capital BDC’s dividend payout ratio (DPR) is 409.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CCAP. Royal Bank of Canada lifted its position in shares of Crescent Capital BDC by 3.6% during the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after buying an additional 2,128 shares in the last quarter. XTX Topco Ltd acquired a new position in Crescent Capital BDC in the 2nd quarter valued at $165,000. Quantbot Technologies LP purchased a new position in Crescent Capital BDC in the 2nd quarter valued at $219,000. Invesco Ltd. boosted its stake in Crescent Capital BDC by 31.4% during the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after purchasing an additional 9,180 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Crescent Capital BDC during the second quarter worth $286,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Analyst Ratings Changes

CCAP has been the subject of several research analyst reports. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods decreased their target price on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Finally, Wells Fargo & Company decreased their target price on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Crescent Capital BDC currently has a consensus rating of “Hold” and an average target price of $14.30.

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.