Alpine Global Management LLC Increases Stock Position in Crescent Capital BDC, Inc. $CCAP

Alpine Global Management LLC boosted its position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 82.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,756 shares of the company’s stock after purchasing an additional 181,756 shares during the period. Crescent Capital BDC makes up 1.0% of Alpine Global Management LLC’s portfolio, making the stock its 20th biggest position. Alpine Global Management LLC’s holdings in Crescent Capital BDC were worth $5,645,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock worth $9,269,000 after buying an additional 618,590 shares in the last quarter. NewEdge Advisors LLC boosted its position in Crescent Capital BDC by 20.2% in the 4th quarter. NewEdge Advisors LLC now owns 12,279 shares of the company’s stock valued at $173,000 after buying an additional 2,066 shares during the last quarter. Almitas Capital LLC grew its stake in shares of Crescent Capital BDC by 18.0% during the fourth quarter. Almitas Capital LLC now owns 444,234 shares of the company’s stock valued at $6,241,000 after acquiring an additional 67,773 shares in the last quarter. Trexquant Investment LP grew its stake in shares of Crescent Capital BDC by 145.0% during the fourth quarter. Trexquant Investment LP now owns 173,480 shares of the company’s stock valued at $2,437,000 after acquiring an additional 102,662 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Crescent Capital BDC during the fourth quarter worth about $1,467,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Trading Down 1.0%

Shares of NASDAQ CCAP opened at $11.18 on Friday. The stock’s 50 day moving average price is $12.26 and its two-hundred day moving average price is $13.30. Crescent Capital BDC, Inc. has a 52-week low of $10.92 and a 52-week high of $16.03. The stock has a market capitalization of $411.98 million, a P/E ratio of 27.27 and a beta of 0.52. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.35.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a net margin of 9.26% and a return on equity of 9.34%. The firm had revenue of ($6.83) million during the quarter, compared to the consensus estimate of $39.58 million. On average, analysts anticipate that Crescent Capital BDC, Inc. will post 1.38 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $0.03 dividend. This represents a dividend yield of 107.0%. The ex-dividend date is Monday, November 30th. Crescent Capital BDC’s dividend payout ratio (DPR) is presently 409.76%.

Analysts Set New Price Targets

Several research firms recently commented on CCAP. LADENBURG THALM/SH SH cut their price target on Crescent Capital BDC from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Wells Fargo & Company lowered their price objective on Crescent Capital BDC from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Zacks Research downgraded Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. B. Riley Financial reaffirmed a “neutral” rating on shares of Crescent Capital BDC in a research report on Friday, May 15th. Finally, Wall Street Zen cut Crescent Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Crescent Capital BDC has a consensus rating of “Hold” and an average price target of $13.90.

Insider Activity

In related news, President Henry Chung purchased 4,500 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $51,525.00. Following the transaction, the president owned 20,722 shares of the company’s stock, valued at $237,266.90. This trade represents a 27.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jason Breaux purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $11.19 per share, for a total transaction of $55,950.00. Following the acquisition, the chief executive officer owned 52,636 shares in the company, valued at approximately $588,996.84. The trade was a 10.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.23% 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.