& Guaranty Life Insur Fidelity Sells 27,195 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 27,195 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $10.60, for a total value of $288,267.00. Following the completion of the transaction, the insider owned 4,072,564 shares in the company, valued at $43,169,178.40. The trade was a 0.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total value of $340,164.60.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock opened at $10.54 on Friday. The business’s fifty day simple moving average is $11.05 and its 200 day simple moving average is $12.07. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC, Inc. has a 12 month low of $10.50 and a 12 month high of $16.03. The firm has a market capitalization of $388.40 million, a P/E ratio of -117.11 and a beta of 0.52.

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

Crescent Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 12.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC’s payout ratio is -1,511.11%.

Institutional Investors Weigh In On Crescent Capital BDC

Several large investors have recently added to or reduced their stakes in CCAP. HighTower Advisors LLC lifted its holdings in Crescent Capital BDC by 7.7% during the second quarter. HighTower Advisors LLC now owns 129,484 shares of the company’s stock valued at $1,414,000 after purchasing an additional 9,286 shares during the last quarter. Rivernorth Capital Management LLC purchased a new position in shares of Crescent Capital BDC in the second quarter worth about $7,675,000. Beach Point Capital Management LP bought a new stake in shares of Crescent Capital BDC in the second quarter valued at approximately $402,042. Van ECK Associates Corp lifted its stake in shares of Crescent Capital BDC by 3.7% during the 2nd quarter. Van ECK Associates Corp now owns 165,366 shares of the company’s stock valued at $1,806,000 after buying an additional 5,936 shares in the last quarter. Finally, Beacon Pointe Advisors LLC bought a new position in Crescent Capital BDC in the 2nd quarter worth approximately $111,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. LADENBURG THALM/SH SH reduced their target price on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. B. Riley Financial lowered their price target on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Finally, Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, 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.