Zacks Investment Research Upgrades First Eagle Alternative Capital BDC (NASDAQ:FCRD) to Buy

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

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

First Eagle Alternative Capital BDC (NASDAQ:FCRDGet Rating) last announced its quarterly earnings data 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). First Eagle Alternative Capital BDC had a return on equity of 6.20% and a net margin of 56.39%. The business had revenue of $8.07 million during the quarter, compared to the consensus estimate of $8.18 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, equities research analysts predict that First Eagle Alternative Capital BDC will post 0.44 EPS for the current year.

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

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in First Eagle Alternative Capital BDC during the 2nd quarter valued at approximately $27,000. O Shaughnessy Asset Management LLC increased its stake in shares of First Eagle Alternative Capital BDC by 319.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 20,697 shares of the company’s stock valued at $91,000 after buying an additional 15,765 shares during the period. HighTower Advisors LLC raised its holdings in shares of 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 acquiring an additional 8,472 shares in the last quarter. Shikiar Asset Management Inc. lifted its stake in First Eagle Alternative Capital BDC by 75.0% in the fourth quarter. Shikiar Asset Management Inc. now owns 70,000 shares of the company’s stock worth $313,000 after acquiring an additional 30,000 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in First Eagle Alternative Capital BDC by 17.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 166,478 shares of the company’s stock valued at $744,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors own 33.29% of the company’s stock.

About First Eagle Alternative Capital BDC (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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