Key Points
- Insider purchase: Crescent Capital BDC President Henry Chung bought 2,500 shares at an average price of $10.89, investing $27,225 and increasing his position by 11.67%.
- Mixed financial performance: The company reported quarterly EPS of $0.36, slightly below the $0.37 consensus estimate, while revenue of $5.12 million fell well short of analysts’ $37.12 million forecast.
- High dividend, cautious outlook: Crescent declared a quarterly dividend of $0.34, equivalent to a 12.7% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $13.10.
Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) President Henry Chung purchased 2,500 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $10.89 per share, for a total transaction of $27,225.00. Following the purchase, the president owned 23,917 shares of the company's stock, valued at approximately $260,456.13. This represents a 11.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Crescent Capital BDC Price Performance
Shares of NASDAQ CCAP opened at $10.71 on Friday. The company has a fifty day moving average price of $11.11 and a 200 day moving average price of $12.20. The firm has a market cap of $394.66 million, a PE ratio of -119.00 and a beta of 0.52. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC, Inc. has a 1-year low of $10.59 and a 1-year high of $16.03.
Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC's dividend payout ratio (DPR) is presently -1,511.11%.
Institutional Trading of Crescent Capital BDC
Several institutional investors have recently added to or reduced their stakes in CCAP. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Crescent Capital BDC in the 4th quarter valued at $27,000. Rockefeller Capital Management L.P. acquired a new position in Crescent Capital BDC in the fourth quarter valued at approximately $35,000. VPR Management LLC lifted its position in shares of Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company's stock valued at $71,000 after acquiring an additional 3,000 shares during the period. Beacon Pointe Advisors LLC bought a new position in shares of Crescent Capital BDC during the 2nd quarter worth about $111,000. Finally, Beaumont Financial Advisors LLC bought a new position in Crescent Capital BDC in the first quarter worth approximately $127,000. 49.46% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on CCAP shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Wells Fargo & Company reduced 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 note on Wednesday, August 12th. Zacks Research upgraded shares of Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Oppenheimer lowered shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $19.00 to $16.00 in a research report on Friday, May 15th. Finally, B. Riley Financial cut their target price on Crescent Capital BDC from $13.50 to $12.50 and set a "neutral" rating for the company in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $13.10.
Check Out 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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