Alcentra Capital Corp. (NASDAQ:ABDC) Given Average Recommendation of “Hold” by Analysts
Alcentra Capital Corp. (NASDAQ:ABDC) has been assigned a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $13.75.
ABDC has been the subject of a number of research reports. DA Davidson initiated coverage on shares of Alcentra Capital Corp. in a research note on Wednesday, July 5th. They issued a “buy” rating and a $15.00 price objective for the company. TheStreet lowered shares of Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Alcentra Capital Corp. in a research note on Tuesday, July 25th. Finally, Raymond James Financial, Inc. lowered shares of Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $16.00 to $14.00 in a research note on Monday, July 17th.
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In related news, major shareholder Of New York Mellon Corp Bank sold 1,691,839 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $13.13, for a total value of $22,213,846.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.96% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in ABDC. Guggenheim Capital LLC increased its position in shares of Alcentra Capital Corp. by 57.3% in the fourth quarter. Guggenheim Capital LLC now owns 67,654 shares of the asset manager’s stock worth $810,000 after buying an additional 24,637 shares in the last quarter. Muzinich & Co. Inc. increased its position in shares of Alcentra Capital Corp. by 98.3% in the first quarter. Muzinich & Co. Inc. now owns 452,913 shares of the asset manager’s stock worth $6,223,000 after buying an additional 224,537 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Alcentra Capital Corp. by 93.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 166,750 shares of the asset manager’s stock worth $2,291,000 after buying an additional 80,544 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Alcentra Capital Corp. during the first quarter worth approximately $491,000. Finally, UBS Group AG increased its position in shares of Alcentra Capital Corp. by 20.7% in the first quarter. UBS Group AG now owns 258,940 shares of the asset manager’s stock worth $3,558,000 after buying an additional 44,387 shares in the last quarter. Institutional investors and hedge funds own 43.52% of the company’s stock.
Shares of Alcentra Capital Corp. (NASDAQ ABDC) traded down 2.90% on Friday, hitting $11.37. 91,211 shares of the company traded hands. The firm’s 50-day moving average is $13.00 and its 200 day moving average is $13.22. Alcentra Capital Corp. has a 1-year low of $11.17 and a 1-year high of $14.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Saturday, September 30th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 11.96%. The ex-dividend date is Thursday, September 28th. Alcentra Capital Corp.’s dividend payout ratio (DPR) is presently -1,700.00%.
About Alcentra Capital Corp.
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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