Crescent Capital BDC (NASDAQ:CCAP) Sees Large Volume Increase Following Dividend Announcement

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw strong trading volume on Monday following a dividend announcement from the company. 40,414 shares changed hands during mid-day trading, a decline of 71% from the previous session’s volume of 141,219 shares.The stock last traded at $18.75 and had previously closed at $18.78.

The newly announced dividend which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.42 dividend. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 8.96%. The ex-dividend date of this dividend is Friday, June 28th. Crescent Capital BDC’s payout ratio is currently 59.79%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCAP. Wells Fargo & Company boosted their price target on shares of Crescent Capital BDC from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Keefe, Bruyette & Woods lifted their price target on Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, Raymond James raised their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, May 10th.

Crescent Capital BDC Price Performance

The company has a market cap of $695.25 million, a price-to-earnings ratio of 6.56 and a beta of 0.81. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $18.11 and a two-hundred day simple moving average of $17.36.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Crescent Capital BDC had a net margin of 53.32% and a return on equity of 11.99%. The company had revenue of $50.36 million for the quarter, compared to the consensus estimate of $48.31 million. On average, equities research analysts anticipate that Crescent Capital BDC, Inc. will post 2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crescent Capital BDC

Several hedge funds have recently bought and sold shares of CCAP. Apollon Wealth Management LLC increased its position in Crescent Capital BDC by 18.0% during the 4th quarter. Apollon Wealth Management LLC now owns 21,930 shares of the company’s stock worth $381,000 after purchasing an additional 3,353 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in Crescent Capital BDC in the 4th quarter valued at $63,000. Jump Financial LLC boosted its holdings in shares of Crescent Capital BDC by 29.8% during the fourth quarter. Jump Financial LLC now owns 25,382 shares of the company’s stock worth $441,000 after purchasing an additional 5,823 shares during the last quarter. Relative Value Partners Group LLC grew its position in shares of Crescent Capital BDC by 2.1% in the fourth quarter. Relative Value Partners Group LLC now owns 383,121 shares of the company’s stock valued at $6,659,000 after purchasing an additional 7,834 shares during the period. Finally, Tucker Asset Management LLC acquired a new position in Crescent Capital BDC in the fourth quarter valued at $167,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.