225,312 Shares in Crescent Capital BDC, Inc. $CCAP Acquired by Closed End Fund Advisors Inc.

Closed End Fund Advisors Inc. purchased a new position in Crescent Capital BDC, Inc. (NASDAQ:CCAPFree Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 225,312 shares of the company’s stock, valued at approximately $3,166,000. Crescent Capital BDC accounts for approximately 1.9% of Closed End Fund Advisors Inc.’s holdings, making the stock its 14th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Crescent Capital BDC in the 4th quarter worth approximately $27,000. VPR Management LLC increased its holdings in Crescent Capital BDC by 150.0% in the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company’s stock worth $71,000 after buying an additional 3,000 shares during the period. Westbourne Investments Inc. acquired a new position in Crescent Capital BDC in the 3rd quarter worth approximately $141,000. Permanens Capital L.P. acquired a new position in Crescent Capital BDC in the 3rd quarter worth approximately $147,000. Finally, LMG Wealth Partners LLC acquired a new position in Crescent Capital BDC in the 4th quarter worth approximately $162,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

Insiders Place Their Bets

In related news, President Henry Chung purchased 4,500 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average price of $11.45 per share, with a total value of $51,525.00. Following the purchase, the president owned 20,722 shares of the company’s stock, valued at $237,266.90. The trade was a 27.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason Breaux purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $11.19 per share, for a total transaction of $55,950.00. Following the purchase, the chief executive officer directly owned 52,636 shares in the company, valued at $588,996.84. This trade represents a 10.50% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on CCAP shares. LADENBURG THALM/SH SH cut their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Oppenheimer downgraded shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Wells Fargo & Company cut their price target on shares of Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, May 15th. Wall Street Zen downgraded shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.30.

View Our Latest Research Report on CCAP

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP opened at $11.11 on Friday. The stock has a market capitalization of $409.40 million, a price-to-earnings ratio of 27.10 and a beta of 0.52. Crescent Capital BDC, Inc. has a 12 month low of $10.92 and a 12 month high of $16.03. The firm’s 50 day simple moving average is $12.47 and its 200-day simple moving average is $13.47. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53.

Crescent Capital BDC (NASDAQ:CCAPGet Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of ($6.84) million for the quarter, compared to analysts’ expectations of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. Analysts expect that Crescent Capital BDC, Inc. will post 1.38 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a yield of 107.0%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 409.76%.

About Crescent Capital BDC

(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.

See Also

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Institutional Ownership by Quarter for Crescent Capital BDC (NASDAQ:CCAP)

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