Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder & Guaranty Life Insur Fidelity Sells 32,091 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 32,091 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $10.60, for a total value of $340,164.60. Following the completion of the sale, the insider owned 4,099,759 shares in the company, valued at $43,457,445.40. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

& Guaranty Life Insur Fidelity also recently made the following trade(s):

• On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $288,267.00.

Crescent Capital BDC Price Performance

Crescent Capital BDC stock opened at $10.54 on Friday. The stock’s 50 day moving average is $11.05 and its 200 day moving average is $12.07. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $388.40 million, a P/E ratio of -117.11 and a beta of 0.52. Crescent Capital BDC, Inc. has a one year low of $10.50 and a one year high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP) last released its earnings results on Monday, August 10th. The company reported $0.36 earnings per share 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 analyst estimates 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, research analysts expect 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 given a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 12.9%. Crescent Capital BDC’s dividend payout ratio is -1,511.11%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. LADENBURG THALM/SH SH dropped their price objective on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Finally, Wells Fargo & Company cut their target price 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. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.10.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in Crescent Capital BDC during the fourth quarter worth $27,000. Rockefeller Capital Management L.P. bought a new stake in Crescent Capital BDC in the fourth quarter valued at $35,000. VPR Management LLC increased its stake 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 in the last quarter. Permanens Capital L.P. acquired a new position in shares of Crescent Capital BDC during the third quarter valued at about $147,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of Crescent Capital BDC during the second quarter valued at about $111,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

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.