Oppenheimer analyst Chris Kotowski maintained a Hold rating on Alcentra Capital (ABDC) today. The company’s shares opened today at $6, close to its 52-week low of $5.58.
Kotowski wrote:
“Alcentra is a BDC in transition. While hard to say exactly how far along in this multi- quarter process the company is, we’d characterize things thusly: the process isn’t over yet, but tangible progress has been made. The portfolio still has legacy positions, four on non-accrual, that need to be remediated and/or exited, a process that won’t happen quickly if it is to be done prudently. That said, we think the $10M share buyback authorization, the newly extended and less expensive credit facility, and the management fee waiver should all help to shore up earnings, dividend coverage, and NAV stability over time. At 57% of book, the stock seems cheap, but we remain on the sidelines for now.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 9.2% and a 58.3% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.
The the analyst consensus on Alcentra Capital is currently a Hold rating.
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Based on Alcentra Capital’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.24 million. In comparison, last year the company had a GAAP net loss of $1.61 million.
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Alcentra Capital Corp. is a non-diversified closed-end management investment company, which engages in the provision of debt and equity financing solutions to lower middle and middle-market companies. It targets industries operating in the field of healthcare and pharmaceutical services; defense, aerospace, homeland security and government services; and business and outsourced services. The company was founded on June 6, 2013 and is headquartered in New York, NY.
