North Ground Capital Makes New Investment in Crescent Capital BDC, Inc. $CCAP

Key Points

• North Ground Capital acquired 520,800 shares of Crescent Capital BDC in the second quarter, valued at approximately $5.7 million and representing 1.41% of the company. Institutional investors collectively own 49.46% of CCAP.
• Crescent Capital BDC reported quarterly EPS of $0.36, slightly below the $0.37 consensus estimate, while revenue of $5.12 million fell well short of the $37.12 million expectation.
• The company declared a quarterly dividend of $0.34 per share, equivalent to an annualized $1.36 and a 12.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $13.10, versus a recent share price of $10.71.

North Ground Capital purchased a new stake in Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 520,800 shares of the company's stock, valued at approximately $5,687,136,000. Crescent Capital BDC comprises about 6.8% of North Ground Capital's portfolio, making the stock its 5th largest position. North Ground Capital owned 1.41% of Crescent Capital BDC at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fidelity National Financial Inc. acquired a new stake in shares of Crescent Capital BDC during the second quarter worth $45,922,000. Invesco Ltd. increased its stake in Crescent Capital BDC by 1,504.9% in the fourth quarter. Invesco Ltd. now owns 659,696 shares of the company's stock valued at $9,269,000 after purchasing an additional 618,590 shares during the last quarter. Focus Partners Wealth acquired a new position in Crescent Capital BDC in the fourth quarter valued at $5,476,000. Closed End Fund Advisors Inc. acquired a new position in Crescent Capital BDC in the fourth quarter valued at $3,166,000. Finally, Alpine Global Management LLC lifted its position in Crescent Capital BDC by 82.6% during the fourth quarter. Alpine Global Management LLC now owns 401,756 shares of the company's stock worth $5,645,000 after buying an additional 181,756 shares during the period. Hedge funds and other institutional investors own 49.46% of the company's stock.

Insider Transactions at Crescent Capital BDC

In other Crescent Capital BDC news, President Henry Chung purchased 2,500 shares of the business'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 acquisition, the president owned 23,917 shares of the company's stock, valued at approximately $260,456.13. This represents a 11.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.23% of the company's stock.

Crescent Capital BDC Price Performance

Shares of Crescent Capital BDC stock opened at $10.71 on Monday. Crescent Capital BDC, Inc. has a twelve month low of $10.59 and a twelve month high of $16.03. The stock has a market capitalization of $394.66 million, a P/E ratio of -119.00 and a beta of 0.52. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. The business's fifty day moving average price is $11.11 and its 200 day moving average price is $12.18.

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

Crescent Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Crescent Capital BDC's dividend payout ratio is -1,511.11%.

Analysts Set New Price Targets

CCAP has been the topic of a number of research analyst reports. Zacks Research raised Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of Crescent Capital BDC from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Wells Fargo & Company decreased their target price on shares of Crescent Capital BDC from $12.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $12.00 target price (down from $13.00) on shares of Crescent Capital BDC in a report on Monday, August 17th. Finally, LADENBURG THALM/SH SH dropped their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.10.

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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