225,312 Shares in Crescent Capital BDC, Inc. $CCAP Purchased by Closed End Fund Advisors Inc.

Key Points

• Closed End Fund Advisors Inc. bought 225,312 shares of Crescent Capital BDC in the fourth quarter, worth about $3.17 million, making CCAP its 14th-largest position.
• Analyst sentiment on CCAP has softened, with recent downgrades from Zacks Research, Wall Street Zen, and Oppenheimer; the stock now carries a consensus Hold rating and an average price target of $14.30.
• Company insiders also bought shares recently, including President Henry Chung and CEO Jason Breaux, while Crescent Capital BDC reported quarterly EPS of $0.42 and announced a $0.03 special dividend payable on December 15.

Closed End Fund Advisors Inc. acquired a new position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 225,312 shares of the company's stock, valued at approximately $3,166,000. Crescent Capital BDC accounts for 1.9% of Closed End Fund Advisors Inc.'s portfolio, making the stock its 14th biggest position. Closed End Fund Advisors Inc. owned approximately 0.61% of Crescent Capital BDC at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpine Global Management LLC bought a new stake in Crescent Capital BDC during the third quarter valued at approximately $3,137,000. Bulldog Investors LLP lifted its holdings in Crescent Capital BDC by 50.7% during the third quarter. Bulldog Investors LLP now owns 437,518 shares of the company's stock valued at $6,239,000 after purchasing an additional 147,135 shares in the last quarter. ICG Advisors LLC purchased a new position in shares of Crescent Capital BDC in the fourth quarter worth $1,284,000. Riverbridge Partners LLC purchased a new position in shares of Crescent Capital BDC in the fourth quarter worth $1,326,000. Finally, Adams Asset Advisors LLC lifted its holdings in shares of Crescent Capital BDC by 352.6% in the fourth quarter. Adams Asset Advisors LLC now owns 79,828 shares of the company's stock worth $1,122,000 after buying an additional 62,189 shares in the last quarter. Institutional investors and hedge funds own 49.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CCAP shares. Zacks Research downgraded shares of Crescent Capital BDC from a "hold" rating to a "strong sell" rating in a report on Monday, May 18th. B. Riley Financial reissued a "neutral" rating on shares of Crescent Capital BDC in a report on Friday, May 15th. Wall Street Zen downgraded shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. LADENBURG THALM/SH SH lowered 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. Finally, Oppenheimer downgraded shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $19.00 to $16.00 in a report on Friday, May 15th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.30.

Insider Activity

In other news, President Henry Chung purchased 4,500 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $11.45 per share, with a total value of $51,525.00. Following the completion of the transaction, the president owned 20,722 shares in the company, valued at $237,266.90. This represents a 27.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason Breaux purchased 5,000 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $11.19 per share, with a total value of $55,950.00. Following the completion of the transaction, the chief executive officer owned 52,636 shares of the company's stock, valued at approximately $588,996.84. The trade was a 10.50% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.23% of the company's stock.

Crescent Capital BDC Stock Down 3.5%

NASDAQ:CCAP opened at $11.11 on Friday. Crescent Capital BDC, Inc. has a 1-year low of $10.92 and a 1-year high of $16.03. The company has a 50-day moving average of $12.47 and a 200 day moving average of $13.47. The firm has a market cap of $409.40 million, a PE ratio of 27.10 and a beta of 0.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.53 and a quick ratio of 1.53.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of ($6.84) million during the quarter, compared to analyst estimates of $39.58 million. As a group, research analysts anticipate that Crescent Capital BDC, Inc. will post 1.38 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid 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%.

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.

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