Fidelity National Financial Inc. Takes $45.92 Million Position in Crescent Capital BDC, Inc. $CCAP

Fidelity National Financial Inc. purchased a new position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,205,307 shares of the company’s stock, valued at approximately $45,922,000. Crescent Capital BDC comprises 1.5% of Fidelity National Financial Inc.’s investment portfolio, making the stock its 3rd largest holding. Fidelity National Financial Inc. owned 0.11% of Crescent Capital BDC at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CCAP. Royal Bank of Canada grew its stake in Crescent Capital BDC by 3.6% during the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after acquiring an additional 2,128 shares in the last quarter. XTX Topco Ltd bought a new stake in Crescent Capital BDC during the second quarter worth about $165,000. Quantbot Technologies LP bought a new stake in Crescent Capital BDC in the 2nd quarter worth approximately $219,000. Invesco Ltd. lifted its holdings in shares of Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after acquiring an additional 9,180 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Crescent Capital BDC in the 2nd quarter worth approximately $286,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Price Performance

Shares of Crescent Capital BDC stock opened at $10.82 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. Crescent Capital BDC, Inc. has a 52-week low of $10.64 and a 52-week high of $16.03. The stock has a market capitalization of $398.72 million, a price-to-earnings ratio of -120.22 and a beta of 0.52. The company’s 50 day moving average price is $11.14 and its 200-day moving average price is $12.26.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. Equities research analysts forecast that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is -1,511.11%.

Analyst Ratings Changes

Several equities analysts recently commented 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. B. Riley Financial lowered their price target on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Wells Fargo & Company cut their price target on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, LADENBURG THALM/SH SH decreased their price objective on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.10.

Insider Buying and Selling at Crescent Capital BDC

In other news, President Henry Chung bought 4,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the acquisition, the president owned 20,722 shares in the company, valued at approximately $237,266.90. This trade represents a 27.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.23% 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.