Beverly Hills Private Wealth LLC Acquires Shares of 83,161 Crescent Capital BDC, Inc. $CCAP

Beverly Hills Private Wealth LLC bought a new position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 83,161 shares of the company’s stock, valued at approximately $908,000. Beverly Hills Private Wealth LLC owned approximately 0.23% of Crescent Capital BDC as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ieq Capital LLC boosted its position in shares of Crescent Capital BDC by 3.0% in the 4th quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after purchasing an additional 746 shares during the period. Mariner LLC grew its stake in Crescent Capital BDC by 0.3% during the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after buying an additional 1,492 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Crescent Capital BDC during the fourth quarter worth approximately $27,000. LMG Wealth Partners LLC increased its position in Crescent Capital BDC by 17.8% during the first quarter. LMG Wealth Partners LLC now owns 13,548 shares of the company’s stock worth $165,000 after buying an additional 2,048 shares during the period. Finally, NewEdge Advisors LLC increased its position in Crescent Capital BDC by 20.2% during the fourth quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock worth $173,000 after buying an additional 2,066 shares during the period. Institutional investors and hedge funds own 49.46% of the company’s stock.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP opened at $11.15 on Monday. Crescent Capital BDC, Inc. has a 12-month low of $10.64 and a 12-month high of $16.03. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The stock’s 50 day simple moving average is $11.15 and its 200-day simple moving average is $12.31. The firm has a market cap of $410.88 million, a P/E ratio of -123.89 and a beta of 0.52.

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 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 company had revenue of $5.12 million for the quarter, compared to analyst estimates of $37.12 million. Equities analysts anticipate that Crescent Capital BDC, Inc. will post 1.51 EPS for the current year.

Crescent Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given 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 yield of 12.2%. Crescent Capital BDC’s dividend payout ratio is presently -1,511.11%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CCAP shares. LADENBURG THALM/SH SH decreased their price objective 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. Wells Fargo & Company cut their target price on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Keefe, Bruyette & Woods reduced their price target on shares of Crescent Capital BDC from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th. 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. Finally, B. Riley Financial decreased their price target on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Crescent Capital BDC has a consensus rating of “Hold” and a consensus price target of $13.30.

Insider Buying and Selling at Crescent Capital BDC

In other news, CEO Jason Breaux purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the purchase, the chief executive officer directly owned 52,636 shares in the company, valued at $588,996.84. The trade was a 10.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Henry Chung purchased 4,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were purchased at an average price of $11.45 per share, for a total transaction of $51,525.00. Following the completion of the purchase, the president owned 20,722 shares of the company’s stock, valued at approximately $237,266.90. This trade represents a 27.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.23% of the stock is currently owned by company insiders.

About Crescent Capital BDC

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.