IFC Holdings Incorporated FL Acquires 15,290 Shares of Medley Capital Corporation (MCC)
IFC Holdings Incorporated FL raised its stake in Medley Capital Corporation (NYSE:MCC) by 77.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,054 shares of the investment management company’s stock after buying an additional 15,290 shares during the period. IFC Holdings Incorporated FL’s holdings in Medley Capital Corporation were worth $222,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC raised its position in 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 period. Oxford Asset Management purchased a new stake in Medley Capital Corporation during the first quarter valued at $485,000. Hillsdale Investment Management Inc. purchased a new stake in Medley Capital Corporation during the first quarter valued at $1,451,000. Eagle Global Advisors LLC purchased a new stake in Medley Capital Corporation during the first quarter valued at $723,000. Finally, Advisors Asset Management Inc. raised its stake in Medley Capital Corporation by 75.9% in the first quarter. Advisors Asset Management Inc. now owns 303,208 shares of the investment management company’s stock valued at $2,332,000 after buying an additional 130,869 shares during the last quarter. 36.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Medley Capital Corporation (MCC) opened at 6.33 on Wednesday. The firm has a 50-day moving average of $6.41 and a 200 day moving average of $6.98. 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 announced its earnings results on Wednesday, August 9th. The investment management company reported $0.18 EPS 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 company had revenue of $23.70 million during the quarter, compared to the consensus estimate of $24.67 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Equities research analysts expect that Medley Capital Corporation will post $0.70 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.16 per share. The ex-dividend date is Monday, August 21st. This represents a $0.64 annualized dividend and a yield of 10.11%. Medley Capital Corporation’s payout ratio is presently -640.00%.
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MCC has been the subject of a number of research reports. National Securities reissued a “neutral” rating and issued a $6.00 price target on shares of Medley Capital Corporation in a report on Monday. Zacks Investment Research raised shares of Medley Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “hold” rating and issued a $6.50 price target on shares of Medley Capital Corporation in a report on Friday, July 14th. Keefe, Bruyette & Woods lowered shares of Medley Capital Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $8.50 to $7.00 in a report on Tuesday, May 9th. Finally, BidaskClub lowered shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Medley Capital Corporation currently has an average rating of “Hold” and an average target price of $7.00.
In other Medley Capital Corporation news, CEO Brook Taube purchased 133,549 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were purchased at an average cost of $6.15 per share, with a total value of $821,326.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Seth Taube purchased 304,128 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were acquired at an average cost of $6.20 per share, for a total transaction of $1,885,593.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,016,910 shares of company stock valued at $37,280,401. 8.70% of the stock is currently owned by company 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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