Jefferies Group LLC reissued their hold rating on shares of Medley Capital Corporation (NYSE:MCC) in a research report released on Friday, July 14th. Jefferies Group LLC currently has a $6.50 price target on the investment management company’s stock.
MCC has been the topic of several other reports. Keefe, Bruyette & Woods lowered shares of Medley Capital Corporation from an outperform rating to a market perform rating and cut their target price for the stock from $8.50 to $7.00 in a report on Tuesday, May 9th. National Securities cut their target price on shares of Medley Capital Corporation from $7.00 to $6.00 and set a neutral rating on the stock in a report on Monday, May 15th. Finally, Zacks Investment Research lowered shares of Medley Capital Corporation from a hold rating to a sell rating in a report on Thursday, April 13th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Medley Capital Corporation presently has a consensus rating of Hold and a consensus price target of $7.00.
Medley Capital Corporation (NYSE:MCC) opened at 6.44 on Friday. Medley Capital Corporation has a 52-week low of $5.95 and a 52-week high of $8.06. The firm has a 50-day moving average price of $6.41 and a 200 day moving average price of $7.00.
Medley Capital Corporation (NYSE:MCC) last announced its quarterly earnings data on Wednesday, August 9th. The investment management company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Medley Capital Corporation had a negative net margin of 6.07% and a positive return on equity of 8.04%. The business had revenue of $23.70 million for the quarter, compared to analyst estimates of $24.67 million. During the same period in the prior year, the business posted $0.20 earnings per share. On average, equities analysts anticipate that Medley Capital Corporation will post $0.71 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Wednesday, August 23rd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 9.94%. The ex-dividend date of this dividend is Monday, August 21st. Medley Capital Corporation’s dividend payout ratio (DPR) is currently -640.00%.
In other news, Director Brook Taube acquired 276,593 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was bought at an average price of $6.36 per share, with a total value of $1,759,131.48. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Seth Taube acquired 51,152 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was purchased at an average cost of $6.40 per share, with a total value of $327,372.80. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 6,247,047 shares of company stock valued at $38,698,045. 8.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MCC. Airain ltd increased its position in shares of Medley Capital Corporation by 2.7% in the second quarter. Airain ltd now owns 17,362 shares of the investment management company’s stock worth $111,000 after buying an additional 462 shares during the period. Malaga Cove Capital LLC increased its position in shares of Medley Capital Corporation by 6.9% in the first quarter. Malaga Cove Capital LLC now owns 13,900 shares of the investment management company’s stock worth $114,000 after buying an additional 900 shares during the period. Cue Financial Group Inc. increased its position in shares of Medley Capital Corporation by 1.2% in the second quarter. Cue Financial Group Inc. now owns 209,900 shares of the investment management company’s stock worth $1,341,000 after buying an additional 2,400 shares during the period. Private Advisor Group LLC increased its stake in shares of Medley Capital Corporation by 38.5% in the first quarter. Private Advisor Group LLC now owns 19,480 shares of the investment management company’s stock valued at $147,000 after buying an additional 5,420 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in shares of Medley Capital Corporation by 50.7% in the first quarter. Global X Management Co. LLC now owns 16,517 shares of the investment management company’s stock valued at $127,000 after buying an additional 5,560 shares during the last quarter. 36.29% of the stock is owned by institutional investors.
Medley Capital Corporation Company Profile
Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions.
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