Crescent Capital BDC (NASDAQ:CCAP) CEO Jason Breaux Acquires 5,000 Shares of Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) CEO Jason Breaux acquired 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the purchase, the chief executive officer owned 52,636 shares of the company’s stock, valued at $588,996.84. The trade was a 10.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Crescent Capital BDC Trading Up 1.2%

Shares of CCAP stock opened at $11.44 on Friday. The firm has a market capitalization of $421.56 million, a P/E ratio of 27.90 and a beta of 0.59. Crescent Capital BDC, Inc. has a 1 year low of $10.92 and a 1 year high of $16.03. The firm’s fifty day simple moving average is $12.79 and its 200 day simple moving average is $13.67. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.35.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of ($6.84) million during the quarter, compared to the consensus estimate of $39.58 million. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. As a group, sell-side analysts predict that Crescent Capital BDC, Inc. will post 1.39 EPS for the current year.

Crescent Capital BDC Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a yield of 107.0%. Crescent Capital BDC’s dividend payout ratio is 409.76%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCAP. Wall Street Zen lowered Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research downgraded shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday. Keefe, Bruyette & Woods reduced their price objective on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Oppenheimer lowered shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Finally, B. Riley Financial reissued a “neutral” rating on shares of Crescent Capital BDC in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Crescent Capital BDC presently has a consensus rating of “Hold” and a consensus price target of $14.30.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Crescent Capital BDC during the fourth quarter valued at $27,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Crescent Capital BDC during the 4th quarter worth about $35,000. VPR Management LLC lifted its holdings in 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 purchasing an additional 3,000 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in Crescent Capital BDC in the first quarter valued at about $127,000. Finally, Westbourne Investments Inc. acquired a new position in Crescent Capital BDC in the third quarter valued at about $141,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.

Crescent Capital BDC Company Profile

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.