Alcentra Capital Corp. (ABDC) Reaches New 52-Week Low Following Insider Selling
Alcentra Capital Corp. (NASDAQ:ABDC) hit a new 52-week low on Tuesday after an insider sold shares in the company. The company traded as low as $7.17 and last traded at $7.31, with a volume of 193400 shares trading hands. The stock had previously closed at $7.35.
Specifically, Director Paul J. Echausse sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $7.45, for a total value of $74,500.00. Following the completion of the transaction, the director now owns 58,946 shares of the company’s stock, valued at $439,147.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.96% of the stock is currently owned by company insiders.
A number of brokerages have recently commented on ABDC. Raymond James Financial, Inc. cut shares of Alcentra Capital Corp. from an “outperform” rating to an “underperform” rating in a research note on Wednesday, November 8th. Keefe, Bruyette & Woods set a $13.00 price objective on shares of Alcentra Capital Corp. and gave the stock a “hold” rating in a research note on Sunday, August 6th. UBS AG cut shares of Alcentra Capital Corp. from an “outperform” rating to an “underperform” rating in a research note on Wednesday, November 8th. Rowe cut shares of Alcentra Capital Corp. from an “outperform” rating to an “underperform” rating in a research note on Wednesday, November 8th. Finally, ValuEngine cut shares of Alcentra Capital Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.83.
The stock has a market cap of $104.13, a price-to-earnings ratio of 4.93 and a beta of 0.68.
Alcentra Capital Corp. (NASDAQ:ABDC) last announced its quarterly earnings results on Monday, November 6th. The asset manager reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $7.61 million for the quarter. Alcentra Capital Corp. had a negative net margin of 2.25% and a positive return on equity of 11.32%. analysts expect that Alcentra Capital Corp. will post 1.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 13.68%. The ex-dividend date of this dividend is Thursday, December 28th. Alcentra Capital Corp.’s payout ratio is 283.33%.
Alcentra Capital Corp. announced that its board has authorized a share buyback program on Monday, November 6th that allows the company to buyback $2.50 million in outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several large investors have recently bought and sold shares of ABDC. Muzinich & Co. Inc. boosted its stake in shares of Alcentra Capital Corp. by 34.7% in the 2nd quarter. Muzinich & Co. Inc. now owns 610,164 shares of the asset manager’s stock valued at $8,292,000 after purchasing an additional 157,251 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Alcentra Capital Corp. by 45.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 242,865 shares of the asset manager’s stock valued at $3,300,000 after purchasing an additional 76,115 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Alcentra Capital Corp. in the 2nd quarter valued at $646,000. Stephens Inc. AR bought a new stake in shares of Alcentra Capital Corp. in the 3rd quarter valued at $253,000. Finally, Salzhauer Michael boosted its stake in shares of Alcentra Capital Corp. by 62.6% in the 2nd quarter. Salzhauer Michael now owns 47,292 shares of the asset manager’s stock valued at $643,000 after purchasing an additional 18,200 shares during the last quarter. 30.95% of the stock is currently owned by 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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