Riverbridge Partners LLC Invests $1.33 Million in Crescent Capital BDC, Inc. $CCAP

Key Points

• Riverbridge Partners LLC acquired a new position in Crescent Capital BDC (NASDAQ:CCAP), buying 94,358 shares worth about $1.33 million and representing roughly 0.26% of the company at quarter-end.
• Crescent Capital BDC declared a quarterly dividend of $0.42 payable April 15 (ex-dividend March 31), equal to $1.68 annually and a 13.6% yield with a payout ratio of 178.72%.
• Recent results and market view: CCAP reported $0.45 EPS (beating a $0.44 estimate) but missed revenue expectations, has a market cap of ~$454M, and carries a consensus "Moderate Buy" rating with a $16.13 price target.

Riverbridge Partners LLC acquired a new position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 94,358 shares of the company's stock, valued at approximately $1,326,000. Riverbridge Partners LLC owned about 0.26% of Crescent Capital BDC at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCAP. VPR Management LLC grew its holdings in Crescent Capital BDC by 150.0% during the 3rd quarter. VPR Management LLC now owns 5,000 shares of the company's stock valued at $71,000 after buying an additional 3,000 shares during the last quarter. Westbourne Investments Inc. acquired a new position in shares of Crescent Capital BDC in the third quarter worth $141,000. Permanens Capital L.P. acquired a new position in shares of Crescent Capital BDC in the third quarter worth $147,000. XTX Topco Ltd purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at $165,000. Finally, Seven Mile Advisory purchased a new stake in shares of Crescent Capital BDC in the third quarter valued at $189,000. Hedge funds and other institutional investors own 49.46% of the company's stock.

Crescent Capital BDC Trading Down 2.4%

Shares of CCAP opened at $12.31 on Friday. Crescent Capital BDC, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $17.78. The company has a market capitalization of $454.49 million, a PE ratio of 13.10 and a beta of 0.57. The stock has a fifty day moving average of $13.58 and a two-hundred day moving average of $14.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.22 and a current ratio of 1.22.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $19.05 million for the quarter, compared to analysts' expectations of $39.83 million. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%. As a group, analysts forecast that Crescent Capital BDC, Inc. will post 2.09 EPS for the current year.

Crescent Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Crescent Capital BDC's dividend payout ratio (DPR) is presently 178.72%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCAP. Zacks Research upgraded Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 10th. Wells Fargo & Company reduced their target price on shares of Crescent Capital BDC from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, February 27th. Finally, Wall Street Zen raised shares of Crescent Capital BDC from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.13.

About Crescent Capital BDC

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.

Want to see what other hedge funds are holding CCAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.