Crescent Capital BDC (NASDAQ:CCAP) President Acquires $51,525.00 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) President Henry Chung purchased 4,500 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the purchase, the president directly owned 20,722 shares of the company’s stock, valued at approximately $237,266.90. This represents a 27.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Crescent Capital BDC Trading Down 0.6%

Shares of Crescent Capital BDC stock traded down $0.07 on Friday, hitting $11.37. The stock had a trading volume of 184,154 shares, compared to its average volume of 214,146. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.35. Crescent Capital BDC, Inc. has a one year low of $10.92 and a one year high of $16.03. The stock has a market cap of $418.98 million, a price-to-earnings ratio of 27.73 and a beta of 0.59. The stock’s 50-day simple moving average is $12.79 and its two-hundred day simple moving average is $13.67.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The firm had revenue of ($6.84) million for the quarter, compared to analysts’ expectations of $39.58 million. 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 announced a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a $0.03 dividend. The ex-dividend date is Monday, November 30th. This represents a dividend yield of 107.0%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 409.76%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Oppenheimer cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $19.00 to $16.00 in a report on Friday, May 15th. LADENBURG THALM/SH SH cut their target price on shares of Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Keefe, Bruyette & Woods cut their target price on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Zacks Research cut shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crescent Capital BDC has an average rating of “Hold” and an average price target of $14.30.

Institutional Trading of Crescent Capital BDC

Several large investors have recently added to or reduced their stakes in CCAP. 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 in the last quarter. XTX Topco Ltd bought a new stake in Crescent Capital BDC in the second quarter valued at $165,000. Quantbot Technologies LP bought a new stake in Crescent Capital BDC in the second quarter valued at $219,000. Invesco Ltd. boosted its holdings in Crescent Capital BDC by 31.4% in the second quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after acquiring an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Crescent Capital BDC in the second quarter valued at $286,000. Institutional investors own 49.46% of the company’s stock.

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.