BI Asset Management Fondsmaeglerselskab A S Has $1.09 Million 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 grew its holdings in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) by 39.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,893 shares of the company's stock after purchasing an additional 18,078 shares during the period. 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 reporting period.

Other hedge funds have also made changes to their positions in the company. HighTower Advisors LLC grew its holdings in Crescent Capital BDC by 0.5% during the first quarter. HighTower Advisors LLC now owns 137,366 shares of the company's stock worth $2,352,000 after acquiring an additional 702 shares during the period. Confluence Investment Management LLC grew its holdings in Crescent Capital BDC by 1.6% during the first quarter. Confluence Investment Management LLC now owns 75,052 shares of the company's stock worth $1,285,000 after acquiring an additional 1,213 shares during the period. Barclays PLC grew its holdings in Crescent Capital BDC by 1.8% during the fourth quarter. Barclays PLC now owns 116,111 shares of the company's stock worth $2,232,000 after acquiring an additional 2,085 shares during the period. Cetera Investment Advisers grew its holdings in Crescent Capital BDC by 12.9% during the fourth quarter. Cetera Investment Advisers now owns 18,712 shares of the company's stock worth $360,000 after acquiring an additional 2,141 shares during the period. Finally, LPL Financial LLC grew its holdings in Crescent Capital BDC by 10.0% during the fourth quarter. LPL Financial LLC now owns 24,437 shares of the company's stock worth $470,000 after acquiring an additional 2,230 shares during the period. Institutional investors and hedge funds own 49.46% of the company's stock.

Insider Activity

In other news, major shareholder California Emplo Ufcw-Northern sold 82,000 shares of Crescent Capital BDC stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $14.77, for a total transaction of $1,211,140.00. Following the completion of the sale, the insider directly owned 3,656,095 shares in the company, valued at $54,000,523.15. The trade was a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 572,890 shares of company stock worth $8,676,384. 1.14% of the stock is owned by insiders.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP traded up $0.25 on Monday, hitting $15.53. 577,776 shares of the company's stock traded hands, compared to its average volume of 193,349. The company has a current ratio of 1.27, a quick 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. The firm has a 50-day moving average price of $14.54 and a 200-day moving average price of $15.83.

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

Crescent Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Tuesday, September 30th. Crescent Capital BDC's payout ratio is currently 140.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CCAP shares. Raymond James Financial lowered their target price on Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Keefe, Bruyette & Woods raised Crescent Capital BDC from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company dropped their price target on 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. LADENBURG THALM/SH SH raised Crescent Capital BDC to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Wall Street Zen raised Crescent Capital BDC from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Crescent Capital BDC has an average rating of "Buy" and an average price target of $17.25.

About Crescent Capital BDC

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.