CCC Intelligent dips as Advent divests stake in $291 mln secondary offering

** Shares of CCC Intelligent Solutions CCC, cloud-based platform for insurance industry, down 1.1% at $7.75 premarket after ~$291 mln secondary offering priced

** Chicago-based CCC late Weds announced sale of ~37.3 mln shares by private equity firm Advent International at $7.79, a 0.1% discount to last close

** Advent divested its remaining 5.8% stake, based on CCC's ~642 mln shares outstanding

** Goldman Sachs is bookrunner for the offering

** CCC shares fell for sixth straight session on Weds, closing down 3.6%, and down 33% YTD

** CCC went public in 2021 after SPAC merger with Dragoneer Growth Opportunities Corp. Advent bought CCC in 2017

** Of 14 analysts covering CCC, recommendation breakdown is 10 "strong buy" or "buy", 3 "hold" and 1 "sell" rating; median PT is $11.50, per LSEG