Insider Selling: Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $51,813.74 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAPGet Free Report) major shareholder & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $10.34, for a total value of $51,813.74. Following the sale, the insider directly owned 3,956,268 shares of the company’s stock, valued at $40,907,811.12. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 transaction of $1,422,522.42.
  • 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 transaction 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 transaction of $108,793.69.
  • 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 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 shares were sold at an average price of $10.60, for a total value 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 value of $340,164.60.

Crescent Capital BDC Stock Down 2.9%

Shares of NASDAQ CCAP opened at $9.93 on Friday. The business has a 50-day moving average price of $10.91 and a 200 day moving average price of $11.83. The stock has a market cap of $365.92 million, a PE ratio of -110.33 and a beta of 0.52. 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, Inc. has a 52-week low of $9.88 and a 52-week high of $15.86.

Crescent Capital BDC (NASDAQ:CCAPGet Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.36 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 positive return on equity of 9.02% and a negative net margin of 2.02%. Equities research analysts forecast that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

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

Institutional Investors Weigh In On Crescent Capital BDC

A number of institutional investors have recently added to or reduced their stakes in CCAP. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Crescent Capital BDC during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Crescent Capital BDC in the fourth quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new position in Crescent Capital BDC during the second quarter worth $60,000. VPR Management LLC raised its position in Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in Crescent Capital BDC in the second quarter worth $111,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Key Crescent Capital BDC News

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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCAP. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, B. Riley Financial cut their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.62.

View Our Latest Stock Analysis on Crescent Capital BDC

Crescent Capital BDC Company Profile

(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.

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

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