Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 5,011 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $10.34, for a total transaction of $51,813.74. Following the completion of the sale, the insider owned 3,956,268 shares in the company, valued at approximately $40,907,811.12. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
& Guaranty Life Insur Fidelity also recently made the following trade(s):
- On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.39, for a total transaction of $108,793.69.
- On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.44, for a total transaction of $469,800.00.
- On Tuesday, September 1st, & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.50, for a total transaction of $118,492.50.
- 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 transaction of $424,800.00.
- On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total transaction of $159,000.00.
- 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 transaction of $288,267.00.
- 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 value of $340,164.60.
Crescent Capital BDC Trading Down 0.8%
NASDAQ CCAP opened at $10.29 on Wednesday. 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 twelve month low of $10.26 and a twelve month high of $15.92. The company has a market cap of $379.15 million, a price-to-earnings ratio of -114.33 and a beta of 0.52. The business's fifty day moving average is $10.95 and its 200 day moving average is $11.88.
Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last issued 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). The firm had revenue of $5.12 million during the quarter, compared to analyst estimates of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. As a group, sell-side analysts expect that Crescent Capital BDC, Inc. will post 1.51 EPS for the current fiscal year.
Crescent Capital BDC Dividend Announcement
The company 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 $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 annualized dividend and a dividend yield of 13.2%. Crescent Capital BDC's dividend payout ratio is currently -1,511.11%.
Institutional Trading of Crescent Capital BDC
Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company's stock valued at $1,056,000 after acquiring an additional 2,128 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Crescent Capital BDC in the 2nd quarter worth approximately $165,000. Quantbot Technologies LP bought a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at $219,000. Invesco Ltd. boosted its stake in shares of Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company's stock valued at $541,000 after purchasing an additional 9,180 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at $286,000. 49.46% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CCAP has been the topic of several recent research reports. Wall Street Zen downgraded shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Wells Fargo & Company decreased their price target on shares of 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. LADENBURG THALM/SH SH dropped their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating for the company 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 report on Tuesday, July 21st. Finally, Oppenheimer downgraded Crescent Capital BDC from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $19.00 to $16.00 in a report on Friday, May 15th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $13.10.
Check Out Our Latest Research Report 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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