Key Points
- Major shareholder Guaranty Life Insurance Fidelity sold 40,000 CCAP shares for $424,800 under a pre-arranged Rule 10b5-1 plan, reducing its position by 0.99% to 4.02 million shares. The shareholder also sold 74,286 shares over the prior three trading days.
- Crescent Capital BDC shares opened at $10.48, near their one-year low of $10.42, while the company’s latest quarterly earnings of $0.36 per share narrowly missed estimates.
- The company declared a quarterly dividend of $0.34 per share, equivalent to a 13.0% annualized yield. Analysts maintain a consensus “Hold” rating with a $13.10 price target.
Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 15,000 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $10.60, for a total transaction of $159,000.00. Following the completion of the sale, the insider directly owned 4,057,564 shares in the company, valued at approximately $43,010,178.40. This represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more 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 Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.62, for a total value of $424,800.00.
- On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $288,267.00.
- On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total value of $340,164.60.
Crescent Capital BDC Trading Down 1.3%
Shares of CCAP opened at $10.48 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $386.19 million, a price-to-earnings ratio of -116.44 and a beta of 0.52. The company has a 50-day moving average of $11.02 and a 200 day moving average of $12.00. Crescent Capital BDC, Inc. has a 1-year low of $10.42 and a 1-year high of $16.03.
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 the consensus estimate 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 firm had revenue of $5.12 million for the quarter, compared to analysts' expectations of $37.12 million. On average, research analysts expect that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.
Crescent Capital BDC Announces Dividend
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 paid 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 dividend yield of 13.0%. Crescent Capital BDC's dividend payout ratio (DPR) is currently -1,511.11%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Zacks Research raised Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Wells Fargo & Company decreased 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 note on Wednesday, August 12th. LADENBURG THALM/SH SH lowered their price target on Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research note on Monday, August 17th. Finally, Oppenheimer lowered Crescent Capital BDC from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $19.00 to $16.00 in a research note on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to 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 Report on CCAP
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of CCAP. Northwestern Mutual Wealth Management Co. acquired a new position in Crescent Capital BDC in the 4th quarter worth about $27,000. Rockefeller Capital Management L.P. purchased a new position in Crescent Capital BDC in the 4th quarter valued at $35,000. VPR Management LLC lifted 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 buying an additional 3,000 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in Crescent Capital BDC during the second quarter worth about $111,000. Finally, Beaumont Financial Advisors LLC purchased a new stake in Crescent Capital BDC during the 1st quarter valued at about $127,000. Institutional investors and hedge funds own 49.46% of the company's stock.
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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