Key Points
- CEO Jason Breaux bought 5,000 shares of Crescent Capital BDC at an average price of $11.19, spending about $55,950 and increasing his ownership by 10.5%.
- The stock was trading up 1.2% and opened at $11.44, near its 52-week low of $10.92 and below both its 50-day and 200-day moving averages.
- Analysts remain cautious overall despite a slightly better-than-expected quarterly EPS result; the consensus rating is “Hold,” and several firms recently lowered their price targets or ratings.
Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) CEO Jason Breaux purchased 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the transaction, the chief executive officer owned 52,636 shares in the company, valued at $588,996.84. The trade was a 10.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Crescent Capital BDC Trading Up 1.2%
Shares of CCAP opened at $11.44 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market cap of $421.56 million, a price-to-earnings ratio of 27.90 and a beta of 0.59. The stock has a fifty day moving average price of $12.79 and a two-hundred day moving average price of $13.67. Crescent Capital BDC, Inc. has a 52-week low of $10.92 and a 52-week high of $16.03.
Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%.The company had revenue of ($6.84) million for the quarter, compared to analysts' expectations of $39.58 million. Analysts predict that Crescent Capital BDC, Inc. will post 1.39 EPS for the current fiscal year.
Crescent Capital BDC Announces Dividend
The business also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.03 per share. 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 is currently 409.76%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Crescent Capital BDC from $15.50 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, April 16th. Zacks Research cut shares of Crescent Capital BDC from a "hold" rating to a "strong sell" rating in a research note on Monday. Wall Street Zen lowered shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. B. Riley Financial reaffirmed a "neutral" rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Finally, Wells Fargo & Company decreased their price objective on Crescent Capital BDC from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Friday, May 15th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.30.
Read Our Latest Report on Crescent Capital BDC
Institutional Trading of Crescent Capital BDC
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alpine Global Management LLC bought a new stake in shares of Crescent Capital BDC during the third quarter worth approximately $3,137,000. Bulldog Investors LLP boosted its stake in Crescent Capital BDC by 50.7% in the third quarter. Bulldog Investors LLP now owns 437,518 shares of the company's stock valued at $6,239,000 after acquiring an additional 147,135 shares during the last quarter. ICG Advisors LLC bought a new position in Crescent Capital BDC in the fourth quarter valued at approximately $1,284,000. Riverbridge Partners LLC acquired a new stake in Crescent Capital BDC during the 4th quarter worth $1,326,000. Finally, Adams Asset Advisors LLC grew its holdings in Crescent Capital BDC by 352.6% during the 4th quarter. Adams Asset Advisors LLC now owns 79,828 shares of the company's stock worth $1,122,000 after acquiring an additional 62,189 shares during the period. 49.46% of the stock is owned by institutional investors.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
