Alcentra Capital Corp (ABDC) Receives $12.25 Consensus Target Price from Brokerages
Shares of Alcentra Capital Corp (NASDAQ:ABDC) have earned an average recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $12.25.
Several research firms have weighed in on ABDC. Rowe cut Alcentra Capital from an “outperform” rating to an “underperform” rating in a report on Wednesday, November 8th. Raymond James Financial cut Alcentra Capital from an “outperform” rating to an “underperform” rating in a report on Wednesday, November 8th. ValuEngine cut Alcentra Capital from a “buy” rating to a “hold” rating in a report on Friday, September 1st. UBS cut Alcentra Capital from an “outperform” rating to an “underperform” rating in a report on Wednesday, November 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $9.50 price target on shares of Alcentra Capital in a research note on Friday, November 10th.
Shares of Alcentra Capital (NASDAQ ABDC) remained flat at $$8.32 during trading hours on Friday. 58,146 shares of the company’s stock were exchanged, compared to its average volume of 81,997. The stock has a market cap of $118.52, a P/E ratio of 5.58 and a beta of 0.62. Alcentra Capital has a fifty-two week low of $7.00 and a fifty-two week high of $14.73.
Alcentra Capital (NASDAQ:ABDC) last issued its earnings results on Monday, November 6th. The asset manager reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Alcentra Capital had a positive return on equity of 11.32% and a negative net margin of 2.25%. The business had revenue of $7.61 million during the quarter. sell-side analysts anticipate that Alcentra Capital will post 1.29 EPS for the current year.
Alcentra Capital declared that its Board of Directors has initiated a share buyback plan on Monday, November 6th that authorizes the company to buyback $2.50 million in shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 12.02%. The ex-dividend date of this dividend is Thursday, December 28th. Alcentra Capital’s payout ratio is -2,719.46%.
In related news, Director Steven H. Reiff purchased 6,900 shares of the business’s stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $7.23 per share, with a total value of $49,887.00. Following the completion of the acquisition, the director now owns 35,246 shares of the company’s stock, valued at approximately $254,828.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Echausse sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $7.45, for a total value of $74,500.00. Following the sale, the director now directly owns 58,946 shares of the company’s stock, valued at approximately $439,147.70. The disclosure for this sale can be found here. Insiders bought 11,730 shares of company stock valued at $83,956 in the last 90 days. Company insiders own 4.96% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Wasatch Advisors Inc. grew its stake in Alcentra Capital by 82.9% in the third quarter. Wasatch Advisors Inc. now owns 34,124 shares of the asset manager’s stock worth $365,000 after purchasing an additional 15,469 shares in the last quarter. Stephens Inc. AR bought a new stake in Alcentra Capital during the 3rd quarter valued at $253,000. Dynamic Technology Lab Private Ltd bought a new stake in Alcentra Capital during the 3rd quarter valued at $123,000. Spectrum Management Group Inc. bought a new stake in Alcentra Capital during the 3rd quarter valued at $107,000. Finally, Commerce Bank bought a new stake in Alcentra Capital during the 3rd quarter valued at $159,000. Institutional investors and hedge funds own 32.06% of the company’s stock.
About Alcentra Capital
Alcentra Capital Corporation is a specialty finance company that operates as a non-diversified, closed-end management investment company. The Company operates as a business development company and a regulated investment company. It provides customized debt and equity financing solutions to lower middle-market companies, which are companies having annual earnings, before interest, taxes, depreciation and amortization of between $5 million and $15 million, and/or revenues of between $10 million and $100 million.
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