Ares Management LLC Has $5.68 Million Holdings in Alcentra Capital Corp. (ABDC)
Ares Management LLC decreased its stake in Alcentra Capital Corp. (NASDAQ:ABDC) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 417,591 shares of the asset manager’s stock after selling 16,458 shares during the quarter. Alcentra Capital Corp. accounts for about 0.1% of Ares Management LLC’s portfolio, making the stock its 27th largest position. Ares Management LLC’s holdings in Alcentra Capital Corp. were worth $5,675,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in ABDC. Royal Bank of Canada boosted its holdings in Alcentra Capital Corp. by 1,948.4% during the second quarter. Royal Bank of Canada now owns 8,808 shares of the asset manager’s stock worth $120,000 after buying an additional 8,378 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Alcentra Capital Corp. in the 2nd quarter valued at approximately $163,000. Oppenheimer & Co. Inc. raised its position in shares of Alcentra Capital Corp. by 4.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,098 shares of the asset manager’s stock valued at $178,000 after acquiring an additional 550 shares during the period. Stifel Financial Corp acquired a new stake in shares of Alcentra Capital Corp. in the 2nd quarter valued at approximately $188,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Alcentra Capital Corp. in the 2nd quarter valued at approximately $219,000. 31.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alcentra Capital Corp. (NASDAQ ABDC) traded up 0.10% during midday trading on Wednesday, hitting $10.40. 29,042 shares of the company were exchanged. The firm’s 50 day moving average price is $10.74 and its 200 day moving average price is $12.66. Alcentra Capital Corp. has a one year low of $10.20 and a one year high of $14.73.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Saturday, September 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 13.09%. The ex-dividend date is Thursday, September 28th. Alcentra Capital Corp.’s dividend payout ratio (DPR) is presently -1,700.00%.
A number of brokerages recently issued reports on ABDC. DA Davidson began coverage on shares of Alcentra Capital Corp. in a report on Wednesday, July 5th. They set a “buy” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods set a $13.00 price target on Alcentra Capital Corp. and gave the stock a “hold” rating in a research report on Sunday, August 6th. Raymond James Financial, Inc. cut Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $16.00 to $14.00 in a report on Monday, July 17th. TheStreet lowered Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research report on Monday, July 24th. Finally, ValuEngine lowered Alcentra Capital Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $13.50.
In related news, Director Steven H. Reiff acquired 11,668 shares of the stock in a transaction dated Monday, August 7th. The stock was bought at an average price of $10.72 per share, for a total transaction of $125,080.96. Following the purchase, the director now directly 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 is available through this link. 4.96% of the stock is currently owned by corporate insiders.
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Alcentra Capital Corp. 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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