Alcentra Capital (ABDC) Upgraded to “Hold” at ValuEngine

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ValuEngine upgraded shares of Alcentra Capital (NASDAQ:ABDC) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Shares of Alcentra Capital stock traded down $0.07 during trading hours on Wednesday, hitting $6.50. The company had a trading volume of 46,129 shares, compared to its average volume of 79,452. Alcentra Capital has a twelve month low of $5.58 and a twelve month high of $9.01. The stock has a market cap of $89.89 million, a price-to-earnings ratio of 4.92 and a beta of 0.59.

Alcentra Capital (NASDAQ:ABDC) last issued its earnings results on Monday, November 5th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Alcentra Capital had a negative net margin of 29.76% and a positive return on equity of 9.29%. The business had revenue of $6.55 million during the quarter, compared to analysts’ expectations of $6.61 million. Analysts expect that Alcentra Capital will post 0.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Monday, December 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.72 annualized dividend and a yield of 11.08%. Alcentra Capital’s dividend payout ratio (DPR) is 54.55%.

Hedge funds have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC purchased a new stake in Alcentra Capital in the 2nd quarter valued at $107,000. Salzhauer Michael raised its position in Alcentra Capital by 100.8% in the 2nd quarter. Salzhauer Michael now owns 247,178 shares of the asset manager’s stock valued at $910,000 after purchasing an additional 124,057 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Alcentra Capital by 17.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 629,022 shares of the asset manager’s stock valued at $4,019,000 after purchasing an additional 94,111 shares during the last quarter. Hedge funds and other institutional investors own 32.65% of the company’s stock.

Alcentra Capital Company Profile

Alcentra Capital Corporation is a business development company specializing in investments in lower middle-market companies. The fund seeks to invest in healthcare, business services, defense, government services, telecom and technology, media, infrastructure maintenance and logistics, and oil and gas services sector.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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