Crescent Capital BDC, Inc. (NASDAQ:CCAP – Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 27,195 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $10.60, for a total transaction of $288,267.00. Following the transaction, the insider owned 4,072,564 shares in the company, valued at $43,169,178.40. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 stock was sold at an average price of $10.60, for a total transaction of $340,164.60.
Crescent Capital BDC Stock Performance
Shares of CCAP opened at $10.54 on Monday. Crescent Capital BDC, Inc. has a one year low of $10.50 and a one year high of $16.03. The company has a market cap of $388.40 million, a PE ratio of -117.11 and a beta of 0.52. The stock has a 50-day moving average of $11.05 and a 200-day moving average of $12.06. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30.
Crescent Capital BDC Announces Dividend
The company also recently announced 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. 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 dividend payout ratio is presently -1,511.11%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of CCAP. Royal Bank of Canada grew its holdings 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 worth $1,056,000 after buying an additional 2,128 shares in the last quarter. XTX Topco Ltd bought a new position in Crescent Capital BDC during the 2nd quarter valued at $165,000. Quantbot Technologies LP bought a new position in Crescent Capital BDC during the 2nd quarter valued at $219,000. Invesco Ltd. boosted its holdings in Crescent Capital BDC by 31.4% during 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 purchased a new position in Crescent Capital BDC during the 2nd quarter worth $286,000. Institutional investors own 49.46% of the company’s stock.
Analyst Ratings Changes
CCAP has been the subject of several research reports. Zacks Research raised shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. 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 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 note on Saturday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Finally, B. Riley Financial decreased their target price on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Crescent Capital BDC currently has a consensus rating of “Hold” and a consensus price target of $13.10.
Read Our Latest Report on CCAP
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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