Business

Stock News in Focus: MMA Capital Holdings (NASDAQ: MMAC)

 MMA Capital Holdings (NASDAQ: MMAC) stock identified change of 50.05% away from 52-week low price and recently located move of -15.38% off 52-week high price. It has market worth of $175.73M. MMAC stock has been recorded -1.10% away from 50 day moving average and -0.07% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.35% off 20-day moving average.

On Sept. 19, 2019, MMA Capital Holdings (NASDAQ: MMAC) disclosed that its indirect wholly-owned subsidiary, MMA Energy Holdings, LLC (MEH), entered into  a secured revolving credit facility (Credit Agreement) with the lenders party thereto (the Lenders) and East West Bank (EWB), as administrative and collateral agent (Agent).  The Credit Agreement establishes a $125 million revolving credit facility of which $70 million has been committed and $30 million has been advanced as of the initial closing. The committed amount may be increased up to the full amount of the facility after the initial closing upon the joinder of additional lenders and may be further expanded by up to an additional $50 million with the concurrence of the Lenders. 

The Credit Agreement has a floating interest rate of LIBOR plus 2.75%, payable monthly in arrears and matures in 36 months, subject to one twelve-month extension at the option of the Company.  The Credit Agreement is secured by the Company’s equity interest in MEH, as well as cash flows generated by MEH’s investments in certain renewable energy lending joint ventures and a general guaranty provided by the Company. Proceeds drawn on the facility can be used for existing and additional investments in debt associated with renewable energy and reasonable operating expenses of MEH. 

 The Financial sector company, MMA Capital Holdings noticed change of -0.40% to $30.04 along volume of 2732 shares in recent session compared to an average volume of 18.96K. The stock observed return of 2.39% in 5 days trading activity. The stock was at -0.79% over one month performance. MMAC’s shares are at -12.39% for the quarter and driving a 8.84% return over the course of the past year and is now at 19.21% since this point in 2018. 

 The average volatility for the week at 1.74% and for month was at 2.41%. There are 5.85M shares outstanding and 4.49M shares are floated in market. Right now the stock beta is 0.6. 

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