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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw unusually-high trading volume on Monday after the company announced a dividend. Approximately 40,414 shares traded hands during 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. Stockholders of record on Friday, June 28th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, June 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.96%. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.41. Crescent Capital BDC’s dividend payout ratio (DPR) is 59.79%.

Analyst Ratings Changes

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

Crescent Capital BDC Stock Performance

The company’s 50-day simple moving average is $18.11 and its 200-day simple moving average is $17.36. The stock has a market capitalization of $695.25 million, a price-to-earnings ratio of 6.56 and a beta of 0.81. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.11.

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

Institutional Trading of Crescent Capital BDC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Relative Value Partners Group LLC increased its position in shares of Crescent Capital BDC by 2.1% during the fourth quarter. Relative Value Partners Group LLC now owns 383,121 shares of the company’s stock worth $6,659,000 after buying an additional 7,834 shares during the period. Condor Capital Management lifted its stake in shares of Crescent Capital BDC by 9.9% in the 1st quarter. Condor Capital Management now owns 224,320 shares of the company’s stock valued at $3,872,000 after purchasing an additional 20,236 shares during the period. Mckinley Capital Management LLC boosted its position in shares of Crescent Capital BDC by 59.0% during the 4th quarter. Mckinley Capital Management LLC now owns 92,910 shares of the company’s stock valued at $1,615,000 after purchasing an additional 34,489 shares in the last quarter. Quadrature Capital Ltd grew its stake in Crescent Capital BDC by 32.6% during the fourth quarter. Quadrature Capital Ltd now owns 81,156 shares of the company’s stock worth $1,410,000 after purchasing an additional 19,936 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Crescent Capital BDC in the fourth quarter worth approximately $1,254,000. Institutional investors and hedge funds 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.