Alcentra Capital Corp. (ABDC) Director Buys $125,080.96 in Stock
Alcentra Capital Corp. (NASDAQ:ABDC) Director Steven H. Reiff acquired 11,668 shares of the business’s stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $10.72 per share, for a total transaction of $125,080.96. Following the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $75,040. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Alcentra Capital Corp. (NASDAQ:ABDC) traded down 4.90% during midday trading on Tuesday, hitting $10.48. 151,512 shares of the stock were exchanged. The firm’s 50 day moving average price is $12.85 and its 200 day moving average price is $13.19. Alcentra Capital Corp. has a 12 month low of $10.39 and a 12 month high of $14.73.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Saturday, September 30th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.98%. The ex-dividend date is Thursday, September 28th. Alcentra Capital Corp.’s payout ratio is currently -1,700.00%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Alcentra Capital Corp. during the second quarter worth about $163,000. Creative Planning increased its position in shares of Alcentra Capital Corp. by 2.9% in the first quarter. Creative Planning now owns 20,570 shares of the asset manager’s stock worth $283,000 after buying an additional 570 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Alcentra Capital Corp. by 4.9% in the first quarter. Wells Fargo & Company MN now owns 28,835 shares of the asset manager’s stock worth $396,000 after buying an additional 1,354 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Alcentra Capital Corp. during the first quarter worth about $491,000. Finally, Salzhauer Michael increased its position 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 worth $643,000 after buying an additional 18,200 shares during the last quarter. 43.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on ABDC. DA Davidson began coverage on shares of Alcentra Capital Corp. in a report on Wednesday, July 5th. They issued a “buy” rating and a $15.00 price objective on the stock. Keefe, Bruyette & Woods set a $13.00 price objective on shares of Alcentra Capital Corp. and gave the stock a “hold” rating in a report on Sunday. TheStreet cut shares of Alcentra Capital Corp. from a “b” rating to a “c+” rating in a report on Monday, July 24th. Finally, Raymond James Financial, Inc. cut shares of Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $16.00 to $14.00 in a report on Monday, July 17th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.50.
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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