ValuEngine Upgrades Alcentra Capital Corp. (ABDC) to “Buy”
Alcentra Capital Corp. (NASDAQ:ABDC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Monday.
ABDC has been the topic of several other research reports. Keefe, Bruyette & Woods set a $13.00 price target on Alcentra Capital Corp. and gave the company a “hold” rating in a research report on Sunday, August 6th. DA Davidson began coverage on Alcentra Capital Corp. in a research note on Wednesday, July 5th. They set a “buy” rating and a $15.00 price objective for the company. TheStreet cut Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. cut Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $16.00 to $14.00 in a research report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $13.50.
Alcentra Capital Corp. (NASDAQ ABDC) opened at 10.39 on Monday. The stock’s 50 day moving average is $10.74 and its 200 day moving average is $12.66. Alcentra Capital Corp. has a 12-month low of $10.20 and a 12-month high of $14.73.
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In other Alcentra Capital Corp. news, Director Steven H. Reiff acquired 11,668 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average price of $10.72 per share, with a total value of $125,080.96. Following the completion of the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $75,040. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.96% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Alcentra Capital Corp. by 1,948.4% in the second quarter. Royal Bank of Canada now owns 8,808 shares of the asset manager’s stock valued at $120,000 after acquiring an additional 8,378 shares during the period. Bank of Montreal Can purchased a new stake in shares of Alcentra Capital Corp. during the 2nd quarter worth $163,000. Wealthsource Partners LLC purchased a new stake in shares of Alcentra Capital Corp. during the 2nd quarter worth $176,000. Oppenheimer & Co. Inc. grew its stake in shares of Alcentra Capital Corp. by 4.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,098 shares of the asset manager’s stock worth $178,000 after purchasing an additional 550 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Alcentra Capital Corp. during the 2nd quarter worth $188,000. Hedge funds and other institutional investors own 31.49% of the company’s stock.
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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