& Guaranty Life Insur Fidelity Sells 139,054 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the sale, the insider owned 3,680,307 shares in the company, valued at $37,649,540.61. This represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, September 8th, & Guaranty Life Insur Fidelity sold 126,436 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.33, for a total value of $1,306,083.88.
• On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.39, for a total value of $108,793.69.
• On Thursday, September 3rd, & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.34, for a total value of $51,813.74.
• On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.44, for a total value of $469,800.00.
• On Tuesday, September 1st, & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.50, for a total value of $118,492.50.
• On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.62, for a total value of $424,800.00.
• On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $159,000.00.
• 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 transaction of $288,267.00.
• 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 transaction of $340,164.60.

Crescent Capital BDC Price Performance

Shares of NASDAQ:CCAP opened at $9.93 on Friday. The company has a market cap of $365.92 million, a PE ratio of -110.33 and a beta of 0.52. Crescent Capital BDC, Inc. has a fifty-two week low of $9.88 and a fifty-two week high of $15.86. The firm has a 50-day simple moving average of $10.91 and a 200 day simple moving average of $11.83. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, sell-side analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 13.7%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently -1,511.11%.

Analysts Set New Price Targets

CCAP has been the topic of several research analyst reports. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Bank of America reaffirmed a “neutral” rating and set a $10.25 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Thursday. B. Riley Financial decreased 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 report on Wednesday, August 12th. LADENBURG THALM/SH SH lowered their price objective on shares of 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, Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $19.00 to $16.00 in a research note on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Crescent Capital BDC currently has an average rating of “Hold” and a consensus price target of $12.62.

Crescent Capital BDC News Summary

Here are the key news stories impacting Crescent Capital BDC this week:

• Positive Sentiment: Crescent Capital BDC continues to offer a $0.34 quarterly dividend, equivalent to $1.36 annually and a yield of roughly 13%. The dividend may provide income support, although the company’s reported earnings and payout-ratio figures raise questions about sustainability. Dividend and company update
• Neutral Sentiment: Reported short interest was zero shares as of September 10, unchanged from the prior period. This implies no meaningful short-covering or short-selling pressure and makes the data largely irrelevant to the current move.
• Negative Sentiment: Bank of America downgraded CCAP from Buy to Neutral and cut its price target from $13 to $10.25. The revised target offers only about 3.2% upside from the stock’s reported $9.93 level, signaling limited near-term appreciation potential. Bank of America downgrade
• Negative Sentiment: Major shareholder Guaranty Life Insurance Fidelity has sold more than 300,000 shares in a series of recent transactions, including sales valued at approximately $1.31 million and $1.42 million on September 8 and 9. The trades were executed under a Rule 10b5-1 plan, which reduces their signaling value, but the persistent selling can still weigh on investor sentiment. Major shareholder sales
• Negative Sentiment: The company’s latest quarterly results missed consensus expectations, with earnings per share of $0.36 versus $0.37 expected. Reported revenue of $5.12 million was also well below the $37.12 million analyst estimate, adding to concerns about operating performance and earnings quality.

Institutional Trading of Crescent Capital BDC

A number of hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Crescent Capital BDC during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Crescent Capital BDC during the fourth quarter worth $35,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Crescent Capital BDC during the second quarter worth $60,000. VPR Management LLC lifted its position in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Beacon Pointe Advisors LLC bought a new stake in Crescent Capital BDC in the 2nd quarter valued at $111,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

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.