Crescent Capital BDC, Inc. (NASDAQ:CCAP) Stock Holdings Increased by Sun Life Financial Inc.

Sun Life Financial Inc. increased its holdings in shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) by 20.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,226,308 shares of the company's stock after purchasing an additional 382,542 shares during the period. Crescent Capital BDC accounts for 2.3% of Sun Life Financial Inc.'s investment portfolio, making the stock its 10th largest holding. Sun Life Financial Inc. owned 6.01% of Crescent Capital BDC worth $41,187,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Deerfield Management Company L.P. Series C purchased a new stake in shares of Crescent Capital BDC during the second quarter worth approximately $1,021,000. Hennion & Walsh Asset Management Inc. raised its position in Crescent Capital BDC by 182.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 49,482 shares of the company's stock worth $929,000 after buying an additional 31,952 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Crescent Capital BDC by 31.9% in the 2nd quarter. Millennium Management LLC now owns 268,097 shares of the company's stock worth $5,035,000 after acquiring an additional 64,902 shares during the period. Marshall Wace LLP purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at about $767,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at about $346,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CCAP shares. Bank of America cut their price target on shares of Crescent Capital BDC from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Wells Fargo & Company cut their target price on Crescent Capital BDC from $19.00 to $18.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 14th. Finally, LADENBURG THALM/SH SH began coverage on Crescent Capital BDC in a research note on Monday, September 30th. They issued a "buy" rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Crescent Capital BDC Price Performance

Crescent Capital BDC stock traded up $0.11 during mid-day trading on Monday, reaching $18.50. The company had a trading volume of 105,905 shares, compared to its average volume of 132,691. The stock's 50-day simple moving average is $18.43 and its 200-day simple moving average is $18.31. Crescent Capital BDC, Inc. has a 1 year low of $15.44 and a 1 year high of $19.63. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $685.65 million, a P/E ratio of 6.58 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last released its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The firm had revenue of $48.95 million during the quarter, compared to the consensus estimate of $48.05 million. Crescent Capital BDC had a return on equity of 12.03% and a net margin of 51.61%. During the same period last year, the business posted $0.56 EPS. On average, equities analysts predict that Crescent Capital BDC, Inc. will post 2.35 EPS for the current year.

Crescent Capital BDC Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 9.08%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Crescent Capital BDC's previous quarterly dividend of $0.09. Crescent Capital BDC's payout ratio is 59.79%.

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.