Crescent Capital BDC, Inc. (NASDAQ:CCAP – Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 11,285 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $10.50, for a total transaction of $118,492.50. Following the completion of the sale, the insider owned 4,006,279 shares in the company, valued at approximately $42,065,929.50. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
& Guaranty Life Insur Fidelity also recently made the following trade(s):
- 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 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 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 stock was 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 Trading Down 0.0%
NASDAQ:CCAP traded down $0.00 on Thursday, reaching $10.40. The company’s stock had a trading volume of 116,080 shares, compared to its average volume of 223,559. Crescent Capital BDC, Inc. has a 1-year low of $10.26 and a 1-year high of $16.03. The business’s 50-day moving average price is $11.01 and its two-hundred day moving average price is $11.98. The firm has a market cap of $383.20 million, a PE ratio of -115.54 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 Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 13.1%. Crescent Capital BDC’s payout ratio is presently -1,511.11%.
Hedge Funds Weigh In On Crescent Capital BDC
Several hedge funds have recently made changes to their positions in CCAP. Royal Bank of Canada lifted its position in shares of Crescent Capital BDC by 3.6% in 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 in the last quarter. XTX Topco Ltd bought a new position in Crescent Capital BDC in the second quarter valued at $165,000. Quantbot Technologies LP acquired a new stake in Crescent Capital BDC in the 2nd quarter valued at $219,000. Invesco Ltd. increased its stake in Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after buying an additional 9,180 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Crescent Capital BDC during the 2nd quarter worth about $286,000. 49.46% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on CCAP shares. 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. Wells Fargo & Company cut their price objective on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. 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 research note on Monday, August 17th. B. Riley Financial lowered their target price on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Finally, LADENBURG THALM/SH SH dropped their price target on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Crescent Capital BDC has a consensus rating of “Hold” and a consensus target price of $13.10.
Check Out Our Latest Analysis on Crescent Capital BDC
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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