Key Points
- Insider buying: Crescent Capital BDC President Henry Chung bought 4,500 shares at $11.45 each, a $51,525 purchase that increased his direct stake by 27.74% to 20,722 shares.
- Recent earnings: The company reported quarterly EPS of $0.42, narrowly topping analyst estimates of $0.41, though revenue came in below expectations.
- Mixed outlook: Analysts currently have a Hold consensus on CCAP, with an average price target of $14.30, while the stock also has a newly announced special dividend of $0.03 per share.
Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) President Henry Chung acquired 4,500 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was acquired at an average cost of $11.45 per share, with a total value of $51,525.00. Following the purchase, the president directly owned 20,722 shares in the company, valued at $237,266.90. This represents a 27.74% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Crescent Capital BDC Price Performance
Shares of Crescent Capital BDC stock opened at $11.37 on Friday. Crescent Capital BDC, Inc. has a 52-week low of $10.92 and a 52-week high of $16.03. The stock has a market capitalization of $418.98 million, a price-to-earnings ratio of 27.73 and a beta of 0.59. The company has a fifty day moving average of $12.76 and a 200-day moving average of $13.65. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53.
Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The company had revenue of ($6.84) million during the quarter, compared to analysts' expectations of $39.58 million. Equities research analysts expect that Crescent Capital BDC, Inc. will post 1.39 EPS for the current year.
Crescent Capital BDC Dividend Announcement
The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Stockholders 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 dividend yield of 107.0%. Crescent Capital BDC's dividend payout ratio is 409.76%.
Institutional Investors Weigh In On Crescent Capital BDC
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC bought a new stake in Crescent Capital BDC during the 3rd quarter valued at $3,137,000. Bulldog Investors LLP raised its holdings in Crescent Capital BDC by 50.7% during the 3rd quarter. Bulldog Investors LLP now owns 437,518 shares of the company's stock valued at $6,239,000 after buying an additional 147,135 shares during the last quarter. ICG Advisors LLC bought a new stake in Crescent Capital BDC during the 4th quarter valued at $1,284,000. Riverbridge Partners LLC bought a new stake in Crescent Capital BDC during the 4th quarter valued at $1,326,000. Finally, Adams Asset Advisors LLC raised 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 valued at $1,122,000 after buying an additional 62,189 shares during the last quarter. 49.46% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CCAP has been the subject of a number of research reports. B. Riley Financial reaffirmed a "neutral" rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Keefe, Bruyette & Woods lowered their price target on shares of Crescent Capital BDC from $15.50 to $15.00 and set an "outperform" rating for the company in a report on Thursday, April 16th. LADENBURG THALM/SH SH lowered their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set a "buy" rating for the company in a report on Friday, May 15th. Zacks Research lowered shares of Crescent Capital BDC from a "hold" rating to a "strong sell" rating in a report on Monday, May 18th. Finally, Wells Fargo & Company lowered their price target on shares of Crescent Capital BDC from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Friday, May 15th. Two research 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.com, the company currently has a consensus rating of "Hold" and an average target price of $14.30.
View Our Latest Research Report 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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