Alcentra Capital Corp (ABDC) Given Average Recommendation of “Hold” by Brokerages

Alcentra Capital Corp (NASDAQ:ABDC) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $12.25.

ABDC has been the subject of a number of research reports. Raymond James Financial raised shares of Alcentra Capital from an “underperform” rating to a “market perform” rating in a report on Thursday, January 11th. ValuEngine raised shares of Alcentra Capital from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Finally, UBS Group raised shares of Alcentra Capital from an “underperform” rating to a “market perform” rating in a report on Thursday, January 11th.

Shares of Alcentra Capital (NASDAQ ABDC) opened at $7.72 on Tuesday. Alcentra Capital has a 1-year low of $7.00 and a 1-year high of $14.73. The firm has a market cap of $109.97, a price-to-earnings ratio of 16.08 and a beta of 0.55.

Alcentra Capital announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 16th that authorizes the company to repurchase $2.50 million in shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in Alcentra Capital by 1,948.4% in the 2nd quarter. Royal Bank of Canada now owns 8,808 shares of the asset manager’s stock valued at $120,000 after purchasing an additional 8,378 shares during the period. Spectrum Management Group Inc. bought a new stake in Alcentra Capital in the 3rd quarter valued at $107,000. Dynamic Technology Lab Private Ltd bought a new stake in Alcentra Capital in the 3rd quarter valued at $123,000. BlackRock Inc. lifted its holdings in shares of Alcentra Capital by 18.0% during the 4th quarter. BlackRock Inc. now owns 89,703 shares of the asset manager’s stock worth $753,000 after acquiring an additional 13,669 shares during the period. Finally, Commerce Bank bought a new position in shares of Alcentra Capital during the 3rd quarter worth about $159,000. 34.09% of the stock is owned by hedge funds and other institutional investors.

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About Alcentra Capital

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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