UBS Group Upgrades Alcentra Capital (ABDC) to Market Perform

Alcentra Capital (NASDAQ:ABDC) was upgraded by stock analysts at UBS Group from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

ABDC has been the topic of several other research reports. Rowe lowered Alcentra Capital from an “outperform” rating to an “underperform” rating in a research note on Wednesday, November 8th. Raymond James Financial lowered Alcentra Capital from an “outperform” rating to an “underperform” rating in a research note on Wednesday, November 8th. ValuEngine raised Alcentra Capital from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $9.50 price target on shares of Alcentra Capital in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $12.83.

Shares of Alcentra Capital (NASDAQ:ABDC) opened at $8.39 on Thursday. Alcentra Capital has a twelve month low of $7.00 and a twelve month high of $14.73. The firm has a market capitalization of $119.66, a P/E ratio of 17.48 and a beta of 0.62.

Alcentra Capital (NASDAQ:ABDC) last announced its quarterly earnings results on Monday, November 6th. The asset manager reported $0.34 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 had a positive return on equity of 11.32% and a negative net margin of 2.25%. analysts predict that Alcentra Capital will post 1.29 earnings per share for the current year.

Alcentra Capital announced that its Board of Directors has approved a stock buyback program on Monday, November 6th that permits the company to buyback $2.50 million in outstanding shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Steven H. Reiff acquired 6,900 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $7.23 per share, for a total transaction of $49,887.00. Following the transaction, the director now directly owns 35,246 shares of the company’s stock, valued at approximately $254,828.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul J. Echausse sold 10,000 shares of Alcentra Capital stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $7.45, for a total value of $74,500.00. Following the transaction, the director now owns 58,946 shares of the company’s stock, valued at $439,147.70. The disclosure for this sale can be found here. Insiders have bought a total of 11,730 shares of company stock worth $83,956 in the last three months. Corporate insiders own 4.96% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Alcentra Capital by 1,948.4% during the 2nd quarter. Royal Bank of Canada now owns 8,808 shares of the asset manager’s stock worth $120,000 after purchasing an additional 8,378 shares during the last quarter. Spectrum Management Group Inc. acquired a new position in shares of Alcentra Capital during the 3rd quarter worth approximately $107,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Alcentra Capital during the 3rd quarter worth approximately $123,000. Wealthsource Partners LLC acquired a new position in shares of Alcentra Capital during the 2nd quarter worth approximately $176,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of Alcentra Capital 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 last quarter. Hedge funds and other institutional investors own 32.06% of the company’s stock.

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Alcentra Capital 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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