First Eagle Alternative Capital BDC (NASDAQ:FCRD) Lowered to “Hold” at Zacks Investment Research

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First Eagle Alternative Capital BDC (NASDAQ:FCRDGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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 NASDAQ:FCRD opened at $3.86 on Thursday. First Eagle Alternative Capital BDC has a 52 week low of $3.75 and a 52 week high of $4.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.23 and a current ratio of 0.16. The company’s fifty day moving average is $4.20 and its 200-day moving average is $4.45. The company has a market capitalization of $115.50 million, a PE ratio of 25.73 and a beta of 1.48.

First Eagle Alternative Capital BDC (NASDAQ:FCRDGet Rating) last issued its earnings results on Thursday, March 3rd. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). First Eagle Alternative Capital BDC had a net margin of 13.50% and a return on equity of 6.08%. The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $8.18 million. During the same quarter in the prior year, the firm posted $0.11 EPS. On average, analysts forecast that First Eagle Alternative Capital BDC will post 0.44 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of FCRD. Pettinga Financial Advisors LLC acquired a new position in First Eagle Alternative Capital BDC during the 4th quarter worth about $2,416,000. Rivernorth Capital Management LLC lifted its position in First Eagle Alternative Capital BDC by 25.5% during the 3rd quarter. Rivernorth Capital Management LLC now owns 2,013,905 shares of the company’s stock worth $8,881,000 after buying an additional 409,798 shares in the last quarter. Mackenzie Financial Corp acquired a new position in First Eagle Alternative Capital BDC during the 3rd quarter worth about $1,369,000. Franklin Resources Inc. lifted its position in First Eagle Alternative Capital BDC by 71.1% during the 3rd quarter. Franklin Resources Inc. now owns 708,880 shares of the company’s stock worth $3,126,000 after buying an additional 294,608 shares in the last quarter. Finally, Morgan Stanley acquired a new position in First Eagle Alternative Capital BDC during the 2nd quarter worth about $1,159,000. Institutional investors and hedge funds 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.

Further Reading

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