Insider Selling: Crescent Capital BDC (NASDAQ:CCAP) Major Shareholder Sells $118,492.50 in Stock

Crescent Capital BDC, Inc. (NASDAQ:CCAP) major shareholder & Guaranty Life Insur Fidelity sold 11,285 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $10.50, for a total value of $118,492.50. Following the transaction, the insider directly owned 4,006,279 shares of the company’s stock, valued at $42,065,929.50. This represents a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 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, 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 value of $469,800.00.
• On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.62, for a total value 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 value of $159,000.00.
• On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The shares were 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 transaction of $340,164.60.

Crescent Capital BDC Trading Down 0.8%

Shares of CCAP stock opened at $10.37 on Friday. The firm has a market capitalization of $382.13 million, a P/E ratio of -115.22 and a beta of 0.52. Crescent Capital BDC, Inc. has a 1 year low of $10.26 and a 1 year high of $16.03. The firm’s fifty day simple moving average is $10.98 and its 200 day simple moving average is $11.94. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $5.12 million during the quarter, compared to the consensus estimate of $37.12 million. Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. As a group, sell-side analysts predict that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 13.1%. The ex-dividend date is Wednesday, September 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is presently -1,511.11%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Oppenheimer cut Crescent Capital BDC from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, LADENBURG THALM/SH SH reduced their target price 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. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.10.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CCAP. Northwestern Mutual Wealth Management Co. acquired a new stake in Crescent Capital BDC during the fourth quarter valued at approximately $27,000. Rockefeller Capital Management L.P. acquired a new position in shares of Crescent Capital BDC in the 4th quarter worth approximately $35,000. VPR Management LLC raised its holdings in shares of Crescent Capital BDC by 150.0% in the 3rd 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. Permanens Capital L.P. bought a new position in shares of Crescent Capital BDC during the 3rd quarter worth approximately $147,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Crescent Capital BDC during the 2nd quarter worth approximately $111,000. Institutional investors and hedge funds 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.