Legal & General Group Plc Purchases 12,162 Shares of Medley Capital Corporation (MCC)
Legal & General Group Plc lifted its position in Medley Capital Corporation (NYSE:MCC) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,038 shares of the investment management company’s stock after acquiring an additional 12,162 shares during the quarter. Legal & General Group Plc’s holdings in Medley Capital Corporation were worth $896,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Malaga Cove Capital LLC lifted its stake in Medley Capital Corporation by 23.7% in the second quarter. Malaga Cove Capital LLC now owns 17,200 shares of the investment management company’s stock worth $114,000 after acquiring an additional 3,300 shares during the period. Global X Management Co. LLC increased its position in Medley Capital Corporation by 50.7% during the 1st quarter. Global X Management Co. LLC now owns 16,517 shares of the investment management company’s stock valued at $127,000 after purchasing an additional 5,560 shares during the period. Stephens Inc. AR purchased a new position in Medley Capital Corporation during the 1st quarter valued at about $140,000. Private Advisor Group LLC increased its position in Medley Capital Corporation by 38.5% during the 1st quarter. Private Advisor Group LLC now owns 19,480 shares of the investment management company’s stock valued at $147,000 after purchasing an additional 5,420 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in Medley Capital Corporation during the 1st quarter valued at about $182,000. Hedge funds and other institutional investors own 29.55% of the company’s stock.
Several equities research analysts have recently commented on MCC shares. ValuEngine upgraded shares of Medley Capital Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $7.00 price objective on shares of Medley Capital Corporation in a research note on Wednesday, August 16th. Jefferies Group LLC reiterated a “hold” rating and set a $6.50 price objective on shares of Medley Capital Corporation in a research note on Wednesday, August 16th. National Securities reissued a “neutral” rating and set a $6.00 price objective on shares of Medley Capital Corporation in a report on Monday, August 14th. Finally, Zacks Investment Research lowered shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.00.
Medley Capital Corporation (NYSE MCC) opened at 5.97 on Monday. The firm has a 50-day moving average price of $6.15 and a 200 day moving average price of $6.69. Medley Capital Corporation has a 1-year low of $5.75 and a 1-year high of $8.06.
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 (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $23.70 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.20 earnings per share. On average, equities analysts expect that Medley Capital Corporation will post $0.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Wednesday, August 23rd were paid a dividend of $0.16 per share. The ex-dividend date was Monday, August 21st. This represents a $0.64 annualized dividend and a yield of 10.72%. Medley Capital Corporation’s payout ratio is -640.00%.
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In other news, CEO Brook Taube purchased 50,049 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was bought at an average price of $6.40 per share, for a total transaction of $320,313.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Seth Taube purchased 248,097 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was purchased at an average price of $6.37 per share, with a total value of $1,580,377.89. The disclosure for this purchase can be found here. Insiders have purchased a total of 508,303 shares of company stock valued at $3,238,972 over the last three months. 8.70% of the stock is currently owned by insiders.
About Medley Capital Corporation
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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