First Eagle Alternative Capital BDC (NASDAQ:FCRD) Upgraded to “Buy” by Zacks Investment Research

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Zacks Investment Research upgraded shares of First Eagle Alternative Capital BDC (NASDAQ:FCRDGet Rating) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $4.50 target price on the stock.

According to Zacks, “First Eagle Alternative Capital BDC Inc. is a business development company. First Eagle Alternative Capital BDC Inc., formerly knonw as THL Credit Inc., is based in BOSTON. “

Shares of FCRD opened at $4.02 on Wednesday. The stock has a 50 day moving average of $4.28 and a 200 day moving average of $4.49. The company has a market capitalization of $120.36 million, a price-to-earnings ratio of 6.70 and a beta of 1.48. First Eagle Alternative Capital BDC has a 12 month low of $3.96 and a 12 month high of $4.89. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.60.

First Eagle Alternative Capital BDC (NASDAQ:FCRDGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The company had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $8.18 million. First Eagle Alternative Capital BDC had a return on equity of 6.20% and a net margin of 56.39%. During the same period last year, the firm posted $0.11 earnings per share. As a group, equities research analysts predict that First Eagle Alternative Capital BDC will post 0.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.95%. First Eagle Alternative Capital BDC’s payout ratio is 66.67%.

A number of institutional investors have recently bought and sold shares of FCRD. Bank of America Corp DE purchased a new stake in First Eagle Alternative Capital BDC in the 2nd quarter worth approximately $27,000. O Shaughnessy Asset Management LLC raised its position in shares of First Eagle Alternative Capital BDC by 319.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 20,697 shares of the company’s stock worth $91,000 after buying an additional 15,765 shares in the last quarter. HighTower Advisors LLC boosted its stake in First Eagle Alternative Capital BDC by 37.4% during the third quarter. HighTower Advisors LLC now owns 31,100 shares of the company’s stock valued at $137,000 after buying an additional 8,472 shares during the period. Shikiar Asset Management Inc. boosted its stake in First Eagle Alternative Capital BDC by 75.0% during the fourth quarter. Shikiar Asset Management Inc. now owns 70,000 shares of the company’s stock valued at $313,000 after buying an additional 30,000 shares during the period. Finally, Integrated Wealth Concepts LLC grew its position in First Eagle Alternative Capital BDC by 17.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 166,478 shares of the company’s stock worth $744,000 after buying an additional 25,000 shares in the last quarter. 33.29% of the stock is currently owned by institutional investors and hedge funds.

First Eagle Alternative Capital BDC Company Profile (Get Rating)

THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.

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