Crescent Capital BDC, Inc. (NASDAQ:CCAP – Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total value of $1,422,522.42. Following the completion of the transaction, the insider owned 3,680,307 shares in the company, valued at approximately $37,649,540.61. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Tuesday, September 8th, & Guaranty Life Insur Fidelity sold 126,436 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.33, for a total transaction of $1,306,083.88.
- 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 transaction 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 transaction 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 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 stock was 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 stock was 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 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 $10.23 on Thursday. The stock has a market cap of $376.98 million, a price-to-earnings ratio of -113.67 and a beta of 0.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30. Crescent Capital BDC, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $15.86. The firm’s 50-day simple moving average is $10.94 and its 200 day simple moving average is $11.86.
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 dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 13.3%. Crescent Capital BDC’s dividend payout ratio is -1,511.11%.
Institutional Trading of Crescent Capital BDC
A number of hedge funds have recently bought and sold shares of CCAP. BlackRock Inc. bought a new position in Crescent Capital BDC during the second quarter valued at about $1,361,000. Fidelity National Financial Inc. bought a new stake in Crescent Capital BDC in the second quarter worth about $45,922,000. Closed End Fund Advisors Inc. purchased a new position in Crescent Capital BDC in the fourth quarter valued at about $3,166,000. North Ground Capital purchased a new position in Crescent Capital BDC in the second quarter valued at about $5,687,136. Finally, Rivernorth Capital Management LLC bought a new position in shares of Crescent Capital BDC during the 2nd quarter valued at approximately $7,675,000. 49.46% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $19.00 to $16.00 in a report on Friday, May 15th. LADENBURG THALM/SH SH dropped their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company presently 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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