Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $1,306,083.88 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAPGet Free Report) major shareholder & Guaranty Life Insur Fidelity sold 126,436 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $10.33, for a total value of $1,306,083.88. Following the completion of the sale, the insider directly owned 3,819,361 shares in the company, valued at $39,453,999.13. This represents a 3.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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, September 9th, & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.23, for a total value of $1,422,522.42.
  • On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The stock was 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 stock was sold at an average price of $10.44, for a total transaction 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 transaction of $118,492.50.
  • On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.62, for a total transaction of $424,800.00.
  • On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total transaction 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 stock was 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 traded down $0.06 during midday trading on Wednesday, reaching $10.23. The company’s stock had a trading volume of 510,129 shares, compared to its average volume of 226,861. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The company has a 50 day moving average price of $10.95 and a 200 day moving average price of $11.88. Crescent Capital BDC, Inc. has a one year low of $10.16 and a one year high of $15.86. The company has a market cap of $376.93 million, a price-to-earnings ratio of -113.67 and a beta of 0.52.

Crescent Capital BDC (NASDAQ:CCAPGet Free Report) last issued 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 business had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. On average, equities research analysts expect that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The business 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio is -1,511.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CCAP shares. Wells Fargo & Company decreased their target price on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $19.00 to $16.00 in a research report on Friday, May 15th. B. Riley Financial dropped their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Finally, LADENBURG THALM/SH SH cut their price objective on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.10.

Read Our Latest Research Report on CCAP

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in shares of 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 purchasing an additional 2,128 shares during the period. XTX Topco Ltd acquired a new position in Crescent Capital BDC in the 2nd quarter valued at approximately $165,000. Quantbot Technologies LP acquired a new position in Crescent Capital BDC in the 2nd quarter valued at approximately $219,000. Invesco Ltd. lifted its position in Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after buying an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Crescent Capital BDC in the 2nd quarter worth approximately $286,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Crescent Capital BDC (NASDAQ:CCAP)

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