BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in Crescent Capital BDC, Inc. $CCAP

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Crescent Capital BDC by 39.5%, acquiring an additional 18,078 shares, bringing its total holdings to 63,893 shares worth approximately $1,094,000.
• The quarterly dividend announced by Crescent Capital BDC is $0.42 per share, with an annualized yield of 11.0%, highlighting the company's strong return for investors despite a high dividend payout ratio of 140.00%.
• Several analysts have recently upgraded their ratings on Crescent Capital BDC, with price targets ranging between $15.00 and $17.00, indicating a positive outlook despite recent adjustments.

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) by 39.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,893 shares of the company's stock after buying an additional 18,078 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.17% of Crescent Capital BDC worth $1,094,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ethos Financial Group LLC purchased a new position in shares of Crescent Capital BDC during the 1st quarter valued at $445,000. Raymond James Financial Inc. lifted its stake in shares of Crescent Capital BDC by 7.8% during the 1st quarter. Raymond James Financial Inc. now owns 210,285 shares of the company's stock valued at $3,600,000 after buying an additional 15,155 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Crescent Capital BDC by 14.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 202,873 shares of the company's stock valued at $3,473,000 after buying an additional 25,528 shares in the last quarter. HighTower Advisors LLC lifted its stake in Crescent Capital BDC by 0.5% in the 1st quarter. HighTower Advisors LLC now owns 137,366 shares of the company's stock worth $2,352,000 after purchasing an additional 702 shares in the last quarter. Finally, Barnett & Company Inc. purchased a new stake in Crescent Capital BDC in the 1st quarter worth $296,000. Hedge funds and other institutional investors own 49.46% of the company's stock.

Crescent Capital BDC Stock Performance

Shares of NASDAQ CCAP traded up $0.06 during mid-day trading on Thursday, hitting $15.68. 88,158 shares of the company's stock traded hands, compared to its average volume of 189,239. The company's 50-day moving average is $14.59 and its two-hundred day moving average is $15.83. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.22. Crescent Capital BDC, Inc. has a 1 year low of $13.54 and a 1 year high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $42.99 million for the quarter, compared to analysts' expectations of $42.52 million. Crescent Capital BDC had a net margin of 24.12% and a return on equity of 10.55%. As a group, equities analysts anticipate that Crescent Capital BDC, Inc. will post 2.09 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 10.7%. The ex-dividend date is Tuesday, September 30th. Crescent Capital BDC's dividend payout ratio is currently 140.00%.

Wall Street Analyst Weigh In

CCAP has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Keefe, Bruyette & Woods upgraded shares of Crescent Capital BDC from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, July 22nd. LADENBURG THALM/SH SH upgraded shares of Crescent Capital BDC to a "strong-buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Crescent Capital BDC from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Raymond James Financial decreased their price target on shares of Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $17.25.

Insider Activity

In other news, major shareholder California Emplo Ufcw-Northern sold 82,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $14.77, for a total transaction of $1,211,140.00. Following the sale, the insider directly owned 3,656,095 shares in the company, valued at approximately $54,000,523.15. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond Barrios purchased 3,245 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $15.63 per share, for a total transaction of $50,719.35. Following the completion of the acquisition, the director directly owned 19,177 shares in the company, valued at $299,736.51. The trade was a 20.37% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 246,000 shares of company stock worth $3,666,200 over the last 90 days. Corporate insiders own 1.14% of the company's stock.

Crescent Capital BDC Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.