Crescent Capital BDC, Inc. (NASDAQ:CCAP) Position Increased by Millennium Management LLC

Millennium Management LLC raised its position in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 31.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 268,097 shares of the company’s stock after buying an additional 64,902 shares during the period. Millennium Management LLC’s holdings in Crescent Capital BDC were worth $5,035,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CCAP. Sun Life Financial Inc. lifted its stake in Crescent Capital BDC by 8.1% during the second quarter. Sun Life Financial Inc. now owns 1,843,766 shares of the company’s stock valued at $34,626,000 after buying an additional 137,684 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of Crescent Capital BDC in the 1st quarter valued at about $1,200,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Crescent Capital BDC in the 2nd quarter valued at about $1,021,000. Marshall Wace LLP acquired a new position in shares of Crescent Capital BDC in the 2nd quarter valued at about $767,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Crescent Capital BDC by 182.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 49,482 shares of the company’s stock valued at $929,000 after purchasing an additional 31,952 shares during the period. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Trading Up 0.1 %

NASDAQ:CCAP opened at $18.35 on Friday. Crescent Capital BDC, Inc. has a 52 week low of $15.03 and a 52 week high of $19.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.40 and a current ratio of 1.40. The stock’s 50 day moving average price is $18.29 and its 200 day moving average price is $18.20. The company has a market capitalization of $680.05 million, a P/E ratio of 6.67 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 12.03% and a net margin of 51.61%. The company had revenue of $48.95 million for the quarter, compared to the consensus estimate of $48.05 million. During the same quarter last year, the company posted $0.56 earnings per share. On average, research analysts forecast that Crescent Capital BDC, Inc. will post 2.35 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 9.16%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.09. Crescent Capital BDC’s dividend payout ratio (DPR) is 61.09%.

Wall Street Analyst Weigh In

CCAP has been the topic of a number of research reports. LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a report on Monday, September 30th. They issued a “buy” rating and a $20.00 target price on the stock. Bank of America dropped their price objective on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Wells Fargo & Company dropped their price objective on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.00.

About Crescent Capital BDC

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.