Q3 2017 EPS Estimates for Alcentra Capital Corp. Decreased by Analyst (ABDC)
Alcentra Capital Corp. (NASDAQ:ABDC) – Equities researchers at Zacks Investment Research decreased their Q3 2017 earnings estimates for Alcentra Capital Corp. in a research report issued to clients and investors on Monday. Zacks Investment Research analyst L. Thompson now expects that the asset manager will post earnings per share of $0.34 for the quarter, down from their previous estimate of $0.37. Zacks Investment Research also issued estimates for Alcentra Capital Corp.’s Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.43 EPS and FY2018 earnings at $1.49 EPS.
Several other analysts have also weighed in on the stock. Keefe, Bruyette & Woods set a $13.00 price objective on shares of Alcentra Capital Corp. and gave the company a “hold” rating in a research note on Sunday. TheStreet lowered shares of Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research note on Monday, July 24th. 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 company from $16.00 to $14.00 in a research note on Monday, July 17th. Finally, DA Davidson began coverage on shares of Alcentra Capital Corp. in a research report on Wednesday, July 5th. They issued a “buy” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.50.
Shares of Alcentra Capital Corp. (NASDAQ ABDC) opened at 10.48 on Wednesday. Alcentra Capital Corp. has a 52 week low of $10.39 and a 52 week high of $14.73. The firm has a 50-day moving average of $12.85 and a 200 day moving average of $13.19.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Saturday, September 30th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 12.98%. The ex-dividend date of this dividend is Thursday, September 28th. Alcentra Capital Corp.’s payout ratio is currently -1,700.00%.
In related news, major shareholder Of New York Mellon Corp Bank sold 1,691,839 shares of Alcentra Capital Corp. stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven H. Reiff purchased 11,668 shares of Alcentra Capital Corp. stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average cost of $10.72 per share, with a total value of $125,080.96. Following the transaction, the director now owns 7,000 shares in the company, valued at approximately $75,040. The disclosure for this purchase can be found here. Company insiders own 4.96% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Salzhauer Michael increased its stake in Alcentra Capital Corp. by 62.6% in the second quarter. Salzhauer Michael now owns 47,292 shares of the asset manager’s stock valued at $643,000 after buying an additional 18,200 shares during the last quarter. Bank of Montreal Can acquired a new stake in Alcentra Capital Corp. during the second quarter valued at about $163,000. Confluence Investment Management LLC increased its stake in Alcentra Capital Corp. by 2.7% in the second quarter. Confluence Investment Management LLC now owns 209,528 shares of the asset manager’s stock valued at $2,847,000 after buying an additional 5,566 shares during the last quarter. UBS Group AG increased its stake in Alcentra Capital Corp. by 20.7% in the first quarter. UBS Group AG now owns 258,940 shares of the asset manager’s stock valued at $3,558,000 after buying an additional 44,387 shares during the last quarter. Finally, Ares Management LLC increased its stake in Alcentra Capital Corp. by 3.5% in the first quarter. Ares Management LLC now owns 434,049 shares of the asset manager’s stock valued at $5,964,000 after buying an additional 14,525 shares during the last quarter. 43.52% of the stock is owned by institutional investors and hedge funds.
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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