Alpine Global Management LLC Raises Holdings in Crescent Capital BDC, Inc. $CCAP

Alpine Global Management LLC increased its holdings in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) by 82.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 401,756 shares of the company's stock after acquiring an additional 181,756 shares during the period. Crescent Capital BDC makes up approximately 1.0% of Alpine Global Management LLC's portfolio, making the stock its 20th biggest holding. Alpine Global Management LLC owned 1.09% of Crescent Capital BDC worth $5,645,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CCAP. North Ground Capital increased its stake in Crescent Capital BDC by 99.8% in the 4th quarter. North Ground Capital now owns 835,312 shares of the company's stock valued at $11,736,000 after purchasing an additional 417,312 shares in the last quarter. Invesco Ltd. raised its stake in shares of Crescent Capital BDC by 1,504.9% during the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company's stock worth $9,269,000 after buying an additional 618,590 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Crescent Capital BDC by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company's stock worth $7,707,000 after buying an additional 35,534 shares in the last quarter. Bulldog Investors LLP boosted its position in shares of Crescent Capital BDC by 4.6% in the 4th quarter. Bulldog Investors LLP now owns 457,518 shares of the company's stock worth $6,428,000 after buying an additional 20,000 shares in the last quarter. Finally, Mariner LLC grew its stake in Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company's stock valued at $6,369,000 after acquiring an additional 1,492 shares during the last quarter. Hedge funds and other institutional investors own 49.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Zacks Research downgraded shares of Crescent Capital BDC from a "hold" rating to a "strong sell" rating in a report on Monday, May 18th. Keefe, Bruyette & Woods reduced their price target on shares of Crescent Capital BDC from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday. LADENBURG THALM/SH SH lowered their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. Wells Fargo & Company dropped their price objective on shares of Crescent Capital BDC from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Friday, May 15th. Finally, Wall Street Zen cut Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.90.

Insider Transactions at Crescent Capital BDC

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

Crescent Capital BDC Stock Performance

Shares of CCAP opened at $11.18 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $411.98 million, a price-to-earnings ratio of 27.27 and a beta of 0.52. The company's 50 day simple moving average is $12.26 and its 200 day simple moving average is $13.30. Crescent Capital BDC, Inc. has a 1 year low of $10.92 and a 1 year high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of ($6.83) million during the quarter, compared to analysts' expectations of $39.58 million. Crescent Capital BDC had a return on equity of 9.34% and a net margin of 9.26%. On average, sell-side analysts predict that Crescent Capital BDC, Inc. will post 1.38 EPS for the current year.

Crescent Capital BDC Dividend Announcement

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

Crescent Capital BDC 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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