Alcentra Capital Corp. (NASDAQ:ABDC) Director Paul J. Echausse sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $7.45, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Alcentra Capital Corp. (NASDAQ:ABDC) opened at $7.31 on Tuesday. The stock has a market cap of $104.70, a price-to-earnings ratio of 4.93 and a beta of 0.68. Alcentra Capital Corp. has a 12 month low of $7.18 and a 12 month high of $14.73.
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. The business 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%. equities analysts anticipate that Alcentra Capital Corp. will post 1.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 29th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 13.68%. The ex-dividend date of this dividend is Thursday, December 28th. Alcentra Capital Corp.’s dividend payout ratio is presently -2,719.46%.
Alcentra Capital Corp. declared that its Board of Directors has initiated a stock buyback program on Monday, November 6th that authorizes the company to buyback $2.50 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of Alcentra Capital Corp. in the second quarter valued at $163,000. Salzhauer Michael lifted its stake in shares of 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 in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Alcentra Capital Corp. by 4.4% in the second quarter. Oppenheimer & Co. Inc. now owns 13,098 shares of the asset manager’s stock valued at $178,000 after buying an additional 550 shares in the last quarter. Muzinich & Co. Inc. lifted its stake in shares of Alcentra Capital Corp. by 34.7% in the second quarter. Muzinich & Co. Inc. now owns 610,164 shares of the asset manager’s stock valued at $8,292,000 after buying an additional 157,251 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Alcentra Capital Corp. in the second quarter valued at $188,000. 30.95% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on ABDC shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 price objective on shares of Alcentra Capital Corp. in a research report on Tuesday, July 25th. Raymond James Financial, Inc. cut shares of 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. ValuEngine cut shares of Alcentra Capital Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. TheStreet cut shares of Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research report on Monday, July 24th. Finally, Rowe cut shares of Alcentra Capital Corp. from an “outperform” rating to an “underperform” rating in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Alcentra Capital Corp. currently has a consensus rating of “Hold” and a consensus target price of $12.83.
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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