A series of recent adjustments in analyst ratings and price targets for shares of Crescent Capital BDC (NASDAQ: CCAP) reflect changing market conditions and expectations for the business development company. As part of these updates, Crescent Capital has announced a quarterly dividend, set to be paid on January 15, 2024.
Shareholders on record as of December 31, 2023 will receive a dividend of $0.42 per share, amounting to an annualized dividend of $1.68 and a substantial yield of 12.8%. The ex-dividend date is also scheduled for December 31, 2023. Currently, Crescent Capital BDC’s dividend payout ratio stands at an elevated 171.43%, indicating a commitment to returning value to shareholders despite the high ratio.
Insider Activity and Shareholder Engagement
In addition to the dividend announcement, insider trading activity has garnered attention. On August 25, 2023, Raymond Barrios, a director at Crescent Capital BDC, purchased 3,245 shares at an average price of $15.63 per share. This transaction, totalling approximately $50,719.35, increased Barrios’ holdings to 19,177 shares, valued at around $299,736.51. Following this purchase, insider ownership of the stock rose to 1.14%, indicating confidence in the company’s prospects.
Crescent Capital BDC primarily focuses on direct investments in the middle market in the United States. As a business development company, it plays a crucial role in the private equity and loan fund landscape, providing essential capital to various enterprises.
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The recent activities surrounding Crescent Capital BDC highlight a period of dynamic engagement with investors, reflecting both strategic moves and market positioning.
