North Ground Capital Buys Shares of 520,800 Crescent Capital BDC, Inc. $CCAP

North Ground Capital purchased a new stake in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 520,800 shares of the company's stock, valued at approximately $5,687,136. Crescent Capital BDC accounts for 0.0% of North Ground Capital's portfolio, making the stock its 5th largest holding. North Ground Capital owned approximately 1.41% of Crescent Capital BDC at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company's stock worth $1,056,000 after buying an additional 2,128 shares during the last quarter. XTX Topco Ltd acquired a new stake in Crescent Capital BDC in the 2nd quarter worth about $165,000. Quantbot Technologies LP bought a new position in Crescent Capital BDC in the second quarter valued at about $219,000. Invesco Ltd. increased its stake in shares of Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company's stock valued at $541,000 after acquiring an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Crescent Capital BDC in the 2nd quarter valued at $286,000. Institutional investors and hedge funds own 49.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CCAP. Oppenheimer downgraded shares of Crescent Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $19.00 to $16.00 in a research report on Friday, May 15th. Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $12.00 price target (down from $13.00) on shares of Crescent Capital BDC in a research report on Monday, August 17th. LADENBURG THALM/SH SH lowered their price objective on shares of Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Finally, Wall Street Zen cut Crescent Capital BDC from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $13.10.

Crescent Capital BDC Stock Performance

Shares of NASDAQ CCAP remained flat at $10.60 during midday trading on Friday. The stock had a trading volume of 95,209 shares, compared to its average volume of 222,711. The stock has a market capitalization of $390.61 million, a P/E ratio of -117.78 and a beta of 0.52. The firm has a 50-day moving average price of $11.06 and a two-hundred day moving average price of $12.08. Crescent Capital BDC, Inc. has a 52 week low of $10.50 and a 52 week 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.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Crescent Capital BDC had a negative net margin of 2.02% and a positive return on equity of 9.02%. The firm had revenue of $5.12 million for the quarter, compared to the consensus estimate of $37.12 million. Equities analysts expect that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.36 annualized dividend and a yield of 12.8%. Crescent Capital BDC's payout ratio is -1,511.11%.

Insiders Place Their Bets

In other Crescent Capital BDC news, President Henry Chung acquired 2,500 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average price of $10.89 per share, for a total transaction of $27,225.00. Following the completion of the purchase, the president directly owned 23,917 shares in the company, valued at $260,456.13. The trade was a 11.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.23% of the stock is currently owned by corporate insiders.

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.