Gerhard Lombard Acquires 2,000 Shares of Crescent Capital BDC (NASDAQ:CCAP) Stock

Key Points

• CFO Gerhard Lombard bought 2,000 CCAP shares at an average price of $10.91, increasing his direct ownership by 5.19% to 40,509 shares.
• Crescent Capital BDC shares fell 1.2% to $10.68, near their 52-week low, after quarterly EPS of $0.36 narrowly missed analyst expectations; analysts’ consensus rating is “Hold” with a $13.10 target price.
• The company declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a stated 12.7% yield, payable October 15 to shareholders of record September 30.

Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) CFO Gerhard Lombard purchased 2,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $10.91 per share, for a total transaction of $21,820.00. Following the completion of the purchase, the chief financial officer directly owned 40,509 shares in the company, valued at approximately $441,953.19. This trade represents a 5.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Crescent Capital BDC Trading Down 1.2%

Shares of CCAP stock traded down $0.13 during mid-day trading on Thursday, reaching $10.68. The stock had a trading volume of 201,604 shares, compared to its average volume of 223,032. The stock's 50-day moving average price is $11.13 and its two-hundred day moving average price is $12.24. The firm has a market capitalization of $393.56 million, a PE ratio of -118.67 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. Crescent Capital BDC, Inc. has a 52-week low of $10.64 and a 52-week high of $16.03.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released 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). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The company had revenue of $5.12 million during 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on CCAP shares. LADENBURG THALM/SH SH cut their price objective on shares of Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Zacks Research raised Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. B. Riley Financial dropped their price target on Crescent Capital BDC from $13.50 to $12.50 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Wall Street Zen downgraded Crescent Capital BDC from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Finally, Oppenheimer cut Crescent Capital BDC from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $19.00 to $16.00 in a report on Friday, May 15th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.10.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rivernorth Capital Management LLC purchased a new stake in shares of Crescent Capital BDC during the second quarter worth about $7,675,000. Beach Point Capital Management LP purchased a new position in Crescent Capital BDC in the 2nd quarter worth approximately $402,042,000. Van ECK Associates Corp boosted its stake in Crescent Capital BDC by 3.7% in the 2nd quarter. Van ECK Associates Corp now owns 165,366 shares of the company's stock worth $1,806,000 after purchasing an additional 5,936 shares during the period. Beacon Pointe Advisors LLC purchased a new stake in Crescent Capital BDC during the 2nd quarter valued at approximately $111,000. Finally, Almitas Capital LLC purchased a new stake in Crescent Capital BDC during the 2nd quarter valued at approximately $3,897,000. Hedge funds and other institutional investors own 49.46% of the company's stock.

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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