Key Points
- CFO Gerhard Lombard bought 2,000 CCAP shares at an average price of $10.91, investing $21,820 and increasing his direct ownership by 5.19% to 40,509 shares.
- Crescent Capital BDC reported quarterly EPS of $0.36, slightly below the $0.37 analyst consensus, while revenue of $5.12 million fell well short of expectations.
- The company declared a quarterly dividend of $0.34 per share, equivalent to an annualized $1.36 payout and a 12.7% yield; analysts maintain a consensus “Hold” rating with a $13.10 price target.
Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) CFO Gerhard Lombard bought 2,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $10.91 per share, for a total transaction of $21,820.00. Following the completion of the transaction, the chief financial officer directly owned 40,509 shares in the company, valued at approximately $441,953.19. This represents a 5.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.
Crescent Capital BDC Stock Performance
Shares of CCAP opened at $10.68 on Friday. 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 $10.64 and a 52-week high of $16.03. The company has a 50-day simple moving average of $11.12 and a 200-day simple moving average of $12.21. The company has a market capitalization of $393.52 million, a PE ratio of -118.67 and a beta of 0.52.
Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The company had revenue of $5.12 million for the quarter, compared to analysts' expectations of $37.12 million. Equities research analysts predict that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current fiscal year.
Crescent Capital BDC Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 12.7%. Crescent Capital BDC's payout ratio is -1,511.11%.
Institutional Investors Weigh In On Crescent Capital BDC
A number of hedge funds and other institutional investors have recently modified their holdings of CCAP. Northwestern Mutual Wealth Management Co. purchased a new stake in Crescent Capital BDC in the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of Crescent Capital BDC during the 4th quarter worth about $35,000. VPR Management LLC increased its position in Crescent Capital BDC by 150.0% during the third quarter. VPR Management LLC now owns 5,000 shares of the company's stock worth $71,000 after purchasing an additional 3,000 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at $111,000. Finally, Beaumont Financial Advisors LLC purchased a new position in shares of Crescent Capital BDC in the 1st quarter worth $127,000. 49.46% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CCAP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday. Wells Fargo & Company dropped their price target on Crescent Capital BDC from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 12th. Oppenheimer lowered shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. LADENBURG THALM/SH SH lowered their price objective on shares of 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. Finally, Wall Street Zen downgraded shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Crescent Capital BDC currently has a consensus rating of "Hold" and a consensus price target of $13.10.
View Our Latest Stock Analysis on CCAP
About Crescent Capital BDC
(
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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