Crescent Capital BDC, Inc. (NASDAQ:CCAP – Get Free Report) President Henry Chung purchased 2,500 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the completion of the transaction, the president directly owned 23,917 shares of the company’s stock, valued at approximately $260,456.13. This represents a 11.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Crescent Capital BDC Stock Performance
Shares of CCAP traded up $0.03 during midday trading on Friday, reaching $10.71. The stock had a trading volume of 224,132 shares, compared to its average volume of 223,062. The firm has a market cap of $394.62 million, a PE ratio of -119.00 and a beta of 0.52. The firm has a 50 day simple moving average of $11.12 and a 200-day simple moving average of $12.21. Crescent Capital BDC, Inc. has a one year low of $10.59 and a one year high of $16.03. 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 (NASDAQ:CCAP – Get Free Report) last issued its 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). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. As a group, sell-side analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.
Crescent Capital BDC Announces Dividend
Analyst Ratings Changes
CCAP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday. LADENBURG THALM/SH SH decreased 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 report on Wednesday, August 12th. Wall Street Zen lowered shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. Finally, Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Crescent Capital BDC presently has a consensus rating of “Hold” and a consensus price target of $13.10.
Check Out Our Latest Stock Analysis on Crescent Capital BDC
Institutional Trading of Crescent Capital BDC
Hedge funds and other institutional investors have recently bought and sold shares of the business. Fidelity National Financial Inc. bought a new stake in Crescent Capital BDC in the 2nd quarter valued at about $45,922,000. North Ground Capital increased its holdings in shares of Crescent Capital BDC by 99.8% during the fourth quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after purchasing an additional 417,312 shares during the period. Rivernorth Capital Management LLC bought a new position in shares of Crescent Capital BDC during the second quarter worth approximately $7,675,000. Invesco Ltd. raised its position in shares of Crescent Capital BDC by 1,504.9% in the fourth quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after buying an additional 618,590 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Crescent Capital BDC by 7.0% in the third quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after buying an additional 35,534 shares in the last quarter. 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.
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