Advisors Asset Management Inc. raised its stake in Medley Capital Corporation (NYSE:MCC) by 31.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 398,117 shares of the investment management company’s stock after buying an additional 94,909 shares during the period. Advisors Asset Management Inc.’s holdings in Medley Capital Corporation were worth $2,544,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Medley Capital Corporation by 2.8% in the first quarter. Bank of Montreal Can now owns 555,000 shares of the investment management company’s stock valued at $4,268,000 after buying an additional 15,000 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Medley Capital Corporation by 26.8% in the first quarter. Nationwide Fund Advisors now owns 108,194 shares of the investment management company’s stock valued at $832,000 after buying an additional 22,894 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of Medley Capital Corporation during the first quarter valued at about $103,000. IFC Holdings Incorporated FL acquired a new position in shares of Medley Capital Corporation during the first quarter valued at about $153,000. Finally, Founders Financial Securities LLC acquired a new position in shares of Medley Capital Corporation during the first quarter valued at about $135,000. 36.48% of the stock is currently owned by institutional investors.
Medley Capital Corporation (NYSE MCC) opened at 6.10 on Wednesday. The stock has a 50 day moving average of $6.39 and a 200 day moving average of $6.94. Medley Capital Corporation has a 52-week low of $5.95 and a 52-week high of $8.06.
Medley Capital Corporation (NYSE:MCC) last posted its quarterly earnings data on Wednesday, August 9th. The investment management company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $23.70 million for the quarter, compared to analyst estimates of $24.67 million. Medley Capital Corporation had a positive return on equity of 8.04% and a negative net margin of 6.07%. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, equities analysts anticipate that Medley Capital Corporation will post $0.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Wednesday, August 23rd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.49%. The ex-dividend date of this dividend is Monday, August 21st. Medley Capital Corporation’s dividend payout ratio is currently -640.00%.
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MCC has been the topic of several recent research reports. Keefe, Bruyette & Woods cut shares of Medley Capital Corporation from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $8.50 to $7.00 in a research note on Tuesday, May 9th. National Securities lowered their price objective on shares of Medley Capital Corporation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $6.50 price objective on shares of Medley Capital Corporation in a research note on Friday, July 14th. Zacks Investment Research raised shares of Medley Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, BidaskClub cut shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.00.
In related news, CEO Brook Taube acquired 92,116 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were bought at an average cost of $6.35 per share, with a total value of $584,936.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Seth Taube acquired 455,356 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $6.13 per share, for a total transaction of $2,791,332.28. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 4,928,732 shares of company stock worth $30,588,580. 8.70% of the stock is owned by insiders.
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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