Crescent Capital BDC (NASDAQ:CCAP) Sees Unusually-High Trading Volume After Dividend Announcement

Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw unusually-strong trading volume on Monday after the company announced a dividend. Approximately 40,414 shares were traded 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 $0.42 dividend. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date of this dividend is Friday, June 28th. Crescent Capital BDC’s dividend payout ratio is currently 59.79%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCAP. Wells Fargo & Company boosted their target price on Crescent Capital BDC from $16.50 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, May 13th. Raymond James boosted their price objective on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Keefe, Bruyette & Woods raised their target price 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.

Crescent Capital BDC Trading Up 3.2 %

The firm has a market capitalization of $717.11 million, a price-to-earnings ratio of 6.89 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 firm’s 50 day moving average is $18.19 and its 200 day moving average is $17.38.

Crescent Capital BDC (NASDAQ:CCAP) last posted 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 return on equity of 11.99% and a net margin of 53.32%. The company had revenue of $50.36 million for the quarter, compared to analysts’ expectations of $48.31 million. Equities analysts forecast that Crescent Capital BDC, Inc. will post 2.34 earnings per share for the current year.

Institutional Investors Weigh In On Crescent Capital BDC

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cape Investment Advisory Inc. purchased a new position in Crescent Capital BDC in the 4th quarter worth about $63,000. Tucker Asset Management LLC acquired a new position in Crescent Capital BDC in the 4th quarter worth approximately $167,000. SG Americas Securities LLC purchased a new position in Crescent Capital BDC during the 4th quarter worth approximately $197,000. Alpine Global Management LLC purchased a new position in Crescent Capital BDC during the 1st quarter worth approximately $217,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Crescent Capital BDC during the 3rd quarter valued at $240,000. 49.46% of the stock is owned by institutional investors and hedge funds.

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.