Medley Capital Corp. (NYSE:MCC) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Medley Capital Corp. (NYSE:MCC) have earned an average rating of “Hold” from the ten brokerages that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $8.00.
A number of equities research analysts have commented on the stock. Jefferies Group restated a “hold” rating on shares of Medley Capital Corp. in a report on Friday, August 12th. Zacks Investment Research cut shares of Medley Capital Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday, August 11th. FBR & Co restated a “hold” rating on shares of Medley Capital Corp. in a report on Wednesday, August 10th. Finally, National Securities restated a “neutral” rating and issued a $7.00 price target on shares of Medley Capital Corp. in a report on Thursday, August 11th.
Medley Capital Corp. (NYSE:MCC) opened at 7.23 on Wednesday. The stock’s 50 day moving average is $7.44 and its 200 day moving average is $6.88. Medley Capital Corp. has a 1-year low of $5.26 and a 1-year high of $8.77.
Medley Capital Corp. (NYSE:MCC) last posted its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Medley Capital Corp. had a negative net margin of 31.75% and a positive return on equity of 10.43%. The company earned $28.41 million during the quarter, compared to analysts’ expectations of $30.15 million. During the same period in the prior year, the company posted $0.30 earnings per share. Medley Capital Corp.’s revenue for the quarter was down 21.0% compared to the same quarter last year. Equities research analysts forecast that Medley Capital Corp. will post $0.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Wednesday, August 24th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 12.17%. The ex-dividend date of this dividend is Monday, August 22nd. Medley Capital Corp.’s dividend payout ratio (DPR) is -122.22%.
In other news, Director Seth Taube purchased 171,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were bought at an average cost of $7.69 per share, with a total value of $1,314,990.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brook Taube purchased 382,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were purchased at an average cost of $7.25 per share, for a total transaction of $2,771,675.00. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCC. American Financial Group Inc. raised its position in Medley Capital Corp. by 29.3% in the first quarter. American Financial Group Inc. now owns 2,199,858 shares of the investment management company’s stock worth $14,519,000 after buying an additional 498,400 shares during the last quarter. Confluence Investment Management LLC raised its stake in shares of Medley Capital Corp. by 18.0% in the second quarter. Confluence Investment Management LLC now owns 657,221 shares of the investment management company’s stock valued at $4,403,000 after buying an additional 100,300 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Medley Capital Corp. during the second quarter valued at approximately $3,619,000. Janney Montgomery Scott LLC raised its stake in shares of Medley Capital Corp. by 43.8% in the second quarter. Janney Montgomery Scott LLC now owns 400,342 shares of the investment management company’s stock valued at $3,011,000 after buying an additional 121,971 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Medley Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 315,059 shares of the investment management company’s stock valued at $2,111,000 after buying an additional 40,075 shares in the last quarter. 28.30% of the stock is currently owned by institutional investors.
About Medley Capital Corp.
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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