HighTower Advisors LLC Boosts Stake in Crescent Capital BDC, Inc. (NASDAQ:CCAP)

HighTower Advisors LLC boosted its stake in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,838 shares of the company’s stock after purchasing an additional 768 shares during the period. HighTower Advisors LLC’s holdings in Crescent Capital BDC were worth $2,624,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CCAP. Confluence Investment Management LLC boosted its position in shares of Crescent Capital BDC by 2.2% in the third quarter. Confluence Investment Management LLC now owns 73,206 shares of the company’s stock worth $1,354,000 after purchasing an additional 1,583 shares during the period. Van ECK Associates Corp boosted its holdings in Crescent Capital BDC by 68.0% in the 3rd quarter. Van ECK Associates Corp now owns 44,556 shares of the company’s stock worth $819,000 after buying an additional 18,035 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Crescent Capital BDC by 174.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,264 shares of the company’s stock worth $874,000 after buying an additional 30,018 shares during the period. Sun Life Financial Inc. increased its stake in Crescent Capital BDC by 20.7% in the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock worth $41,187,000 after buying an additional 382,542 shares in the last quarter. Finally, Pettinga Financial Advisors LLC raised its holdings in Crescent Capital BDC by 95.8% during the third quarter. Pettinga Financial Advisors LLC now owns 29,017 shares of the company’s stock valued at $537,000 after acquiring an additional 14,200 shares during the period. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Trading Up 0.4 %

Shares of CCAP stock opened at $19.98 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $740.50 million, a price-to-earnings ratio of 7.84 and a beta of 0.82. Crescent Capital BDC, Inc. has a 12-month low of $15.91 and a 12-month high of $20.03. The stock’s 50-day moving average price is $18.79 and its 200-day moving average price is $18.65.

Crescent Capital BDC Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.42 dividend. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.68 dividend on an annualized basis and a yield of 8.41%. Crescent Capital BDC’s payout ratio is presently 65.88%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCAP. Keefe, Bruyette & Woods upped their price objective on Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. LADENBURG THALM/SH SH assumed coverage on Crescent Capital BDC in a research note on Monday, September 30th. They issued a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.17.

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.