Keefe, Bruyette & Woods Reaffirms Hold Rating for Alcentra Capital Corp. (ABDC)
Keefe, Bruyette & Woods restated their hold rating on shares of Alcentra Capital Corp. (NASDAQ:ABDC) in a research report report published on Friday. The firm currently has a $9.50 price target on the asset manager’s stock.
Several other research analysts have also recently issued reports on the stock. Raymond James Financial, Inc. cut shares of Alcentra Capital Corp. from a strong-buy rating to an outperform rating and dropped their target price for the stock from $16.00 to $14.00 in a report on Monday, July 17th. ValuEngine cut shares of Alcentra Capital Corp. from a buy rating to a hold rating in a report on Friday, September 1st. Rowe cut shares of Alcentra Capital Corp. from an outperform rating to an underperform rating in a report on Wednesday, November 8th. TheStreet cut shares of Alcentra Capital Corp. from a b rating to a c+ rating in a report on Monday, July 24th. Finally, UBS AG cut shares of Alcentra Capital Corp. from an outperform rating to an underperform rating in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Alcentra Capital Corp. currently has a consensus rating of Hold and a consensus price target of $12.83.
Alcentra Capital Corp. (ABDC) opened at $7.31 on Friday. Alcentra Capital Corp. has a 1-year low of $7.18 and a 1-year high of $14.73. The stock has a market cap of $104.70, a PE ratio of 4.93 and a beta of 0.68.
Alcentra Capital Corp. (NASDAQ:ABDC) last issued its earnings results on Monday, November 6th. The asset manager reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Alcentra Capital Corp. had a negative net margin of 2.25% and a positive return on equity of 11.32%. The company had revenue of $7.61 million for the quarter. equities analysts expect that Alcentra Capital Corp. will post 1.32 EPS for the current year.
Alcentra Capital Corp. announced that its board has authorized a share repurchase plan on Monday, November 6th that permits the company to repurchase $2.50 million in outstanding shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.68%. The ex-dividend date of this dividend is Thursday, December 28th. Alcentra Capital Corp.’s dividend payout ratio is currently -2,719.46%.
Several institutional investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. raised its position in shares of Alcentra Capital Corp. by 82.9% in the 3rd quarter. Wasatch Advisors Inc. now owns 34,124 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 15,469 shares during the last quarter. Stephens Inc. AR purchased a new position in shares of Alcentra Capital Corp. in the 3rd quarter valued at approximately $253,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Alcentra Capital Corp. in the 3rd quarter valued at approximately $123,000. Spectrum Management Group Inc. purchased a new position in shares of Alcentra Capital Corp. in the 3rd quarter valued at approximately $107,000. Finally, Commerce Bank purchased a new position in shares of Alcentra Capital Corp. in the 3rd quarter valued at approximately $159,000. 30.95% of the stock is owned by hedge funds and other institutional investors.
Alcentra Capital Corp. Company Profile
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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