Adams Asset Advisors LLC Raises Stock Holdings in Crescent Capital BDC, Inc. $CCAP

Adams Asset Advisors LLC raised its stake in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 352.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,828 shares of the company’s stock after acquiring an additional 62,189 shares during the period. Adams Asset Advisors LLC owned approximately 0.22% of Crescent Capital BDC worth $1,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Global Management LLC purchased a new stake in Crescent Capital BDC during the third quarter worth about $3,137,000. Bulldog Investors LLP boosted its stake 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 valued at $6,239,000 after purchasing an additional 147,135 shares during the period. North Ground Capital boosted its stake in shares of Crescent Capital BDC by 34.4% in the third 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 period. Ares Management LLC grew its holdings in shares of Crescent Capital BDC by 10.0% in the second quarter. Ares Management LLC now owns 516,409 shares of the company’s stock valued at $7,281,000 after purchasing an additional 46,836 shares in the last quarter. Finally, Riverbridge Partners LLC purchased a new stake in Crescent Capital BDC during the 4th quarter worth approximately $1,326,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Price Performance

Shares of NASDAQ CCAP opened at $12.31 on Monday. The stock’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $14.13. The firm has a market capitalization of $454.49 million, a PE ratio of 13.10 and a beta of 0.57. Crescent Capital BDC, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $17.78. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.22 and a current ratio of 1.22.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $19.05 million during the quarter, compared to analysts’ expectations of $39.83 million. As a group, equities research analysts forecast that Crescent Capital BDC, Inc. will post 2.09 EPS for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 13.6%. Crescent Capital BDC’s dividend payout ratio (DPR) is 178.72%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCAP. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Wells Fargo & Company lowered their target price on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Finally, Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

About Crescent Capital BDC

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.