Gerhard Lombard Purchases 2,000 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

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 stock was purchased at an average cost of $10.91 per share, with a total value of $21,820.00. Following the completion of the acquisition, the chief financial officer directly owned 40,509 shares of the company’s stock, valued at approximately $441,953.19. This trade represents a 5.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Crescent Capital BDC Stock Performance

Shares of CCAP opened at $10.71 on Friday. 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 market cap of $394.66 million, a PE ratio of -119.00 and a beta of 0.52. The company’s 50 day simple moving average is $11.11 and its 200-day simple moving average is $12.20. Crescent Capital BDC, Inc. has a 12-month low of $10.59 and a 12-month high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business 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 predict that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is presently -1,511.11%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Fidelity National Financial Inc. purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter worth $45,922,000. ICG Advisors LLC acquired a new position in shares of Crescent Capital BDC during the 4th quarter worth $1,284,000. Closed End Fund Advisors Inc. purchased a new position in shares of Crescent Capital BDC in the 4th quarter valued at about $3,166,000. Alpine Global Management LLC increased its holdings in shares of Crescent Capital BDC by 82.6% in the 4th quarter. Alpine Global Management LLC now owns 401,756 shares of the company’s stock valued at $5,645,000 after purchasing an additional 181,756 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC purchased a new position in shares of Crescent Capital BDC in the 2nd quarter valued at about $908,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CCAP shares. Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Wells Fargo & Company dropped their price target on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. LADENBURG THALM/SH SH reduced their price objective 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. Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, B. Riley Financial lowered their target price 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. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.10.

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.