Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 27,195 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $10.60, for a total transaction of $288,267.00. Following the sale, the insider owned 4,072,564 shares in the company, valued at approximately $43,169,178.40. This represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
& Guaranty Life Insur Fidelity also recently made the following trade(s):
- 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 transaction of $340,164.60.
Crescent Capital BDC Trading Down 0.6%
Shares of Crescent Capital BDC stock opened at $10.54 on Friday. The firm has a 50-day simple moving average of $11.05 and a two-hundred day simple moving average of $12.07. The company has a market cap of $388.40 million, a P/E ratio of -117.11 and a beta of 0.52. Crescent Capital BDC, Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $16.03. 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 (NASDAQ:CCAP - Get Free Report) last posted its earnings results 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 negative net margin of 2.02% and a positive return on equity of 9.02%. The business had revenue of $5.12 million for the quarter, compared to analyst estimates of $37.12 million. As a group, equities 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 declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 12.9%. Crescent Capital BDC's dividend payout ratio is currently -1,511.11%.
Institutional Investors Weigh In On Crescent Capital BDC
Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Crescent Capital BDC during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of Crescent Capital BDC in the fourth quarter valued at approximately $35,000. VPR Management LLC boosted its stake in shares of Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company's stock worth $71,000 after acquiring an additional 3,000 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new stake in shares of Crescent Capital BDC in the second quarter worth approximately $111,000. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of Crescent Capital BDC during the first quarter worth approximately $127,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently commented on CCAP shares. LADENBURG THALM/SH SH cut their price objective on Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Wall Street Zen lowered Crescent Capital BDC from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Oppenheimer cut shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $19.00 to $16.00 in a research note on Friday, May 15th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Crescent Capital BDC has an average rating of "Hold" and a consensus target price of $13.10.
View Our Latest Stock 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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