Alpine Global Management LLC Acquires New Stake in Crescent Capital BDC, Inc. $CCAP

Alpine Global Management LLC purchased a new position in Crescent Capital BDC, Inc. (NASDAQ:CCAP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 220,000 shares of the company’s stock, valued at approximately $3,137,000. Alpine Global Management LLC owned 0.59% of Crescent Capital BDC at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Investments LP raised its holdings in shares of Crescent Capital BDC by 199.6% in the 3rd quarter. Two Sigma Investments LP now owns 269,649 shares of the company’s stock valued at $3,845,000 after purchasing an additional 179,660 shares in the last quarter. Bulldog Investors LLP raised its holdings in shares of Crescent Capital BDC by 50.7% in the third quarter. Bulldog Investors LLP now owns 437,518 shares of the company’s stock worth $6,239,000 after buying an additional 147,135 shares during the last quarter. North Ground Capital grew its stake in Crescent Capital BDC by 34.4% during the 3rd quarter. North Ground Capital now owns 418,000 shares of the company’s stock valued at $5,961,000 after purchasing an additional 107,000 shares during the last quarter. Jane Street Group LLC acquired a new position in Crescent Capital BDC in the 2nd quarter worth approximately $1,448,000. Finally, Millennium Management LLC raised its holdings in shares of Crescent Capital BDC by 78.7% during the third quarter. Millennium Management LLC now owns 202,054 shares of the company’s stock worth $2,881,000 after purchasing an additional 88,966 shares during the last quarter. 49.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CCAP has been the subject of a number of analyst reports. Wall Street Zen raised Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Wells Fargo & Company lowered their price target on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

Crescent Capital BDC Trading Up 3.2%

Shares of CCAP stock opened at $13.19 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $486.97 million, a price-to-earnings ratio of 14.03 and a beta of 0.57. The firm has a 50-day moving average price of $13.85 and a 200 day moving average price of $14.30. Crescent Capital BDC, Inc. has a twelve month low of $12.56 and a twelve month high of $17.97.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. The firm had revenue of $19.05 million for the quarter, compared to analyst estimates of $39.83 million. Research analysts forecast that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.68 annualized dividend and a dividend yield of 12.7%. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 178.72%.

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.