Medley Capital Corporation (MCC) Sees Significant Growth in Short Interest
Medley Capital Corporation (NYSE:MCC) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 1,135,664 shares, a growth of 84.5% from the November 30th total of 615,549 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily volume of 404,853 shares, the short-interest ratio is currently 2.8 days.
Medley Capital (NYSE:MCC) opened at $5.24 on Friday. The company has a quick ratio of 11.02, a current ratio of 11.02 and a debt-to-equity ratio of 1.06. Medley Capital has a one year low of $5.09 and a one year high of $8.05. The firm has a market capitalization of $285.44, a P/E ratio of -18.71, a P/E/G ratio of 1.58 and a beta of 1.22.
Medley Capital (NYSE:MCC) last issued its quarterly earnings results on Thursday, December 7th. The investment management company reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $22.10 million for the quarter, compared to the consensus estimate of $23.51 million. Medley Capital had a positive return on equity of 7.50% and a negative net margin of 15.66%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. research analysts predict that Medley Capital will post 0.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Wednesday, November 22nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 12.21%. The ex-dividend date of this dividend was Tuesday, November 21st. Medley Capital’s payout ratio is presently -228.57%.
Several large investors have recently made changes to their positions in the company. Airain ltd grew its holdings in shares of Medley Capital by 2.7% during the 2nd quarter. Airain ltd now owns 17,362 shares of the investment management company’s stock worth $111,000 after purchasing an additional 462 shares in the last quarter. Ares Management LLC boosted its stake in Medley Capital by 0.5% in the 2nd quarter. Ares Management LLC now owns 966,210 shares of the investment management company’s stock valued at $6,174,000 after buying an additional 4,500 shares in the last quarter. Stifel Financial Corp boosted its stake in Medley Capital by 23.3% in the 2nd quarter. Stifel Financial Corp now owns 34,320 shares of the investment management company’s stock valued at $220,000 after buying an additional 6,480 shares in the last quarter. Stephens Inc. AR boosted its stake in Medley Capital by 36.7% in the 2nd quarter. Stephens Inc. AR now owns 24,935 shares of the investment management company’s stock valued at $159,000 after buying an additional 6,700 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Medley Capital by 9.5% in the 2nd quarter. Legal & General Group Plc now owns 140,038 shares of the investment management company’s stock valued at $896,000 after buying an additional 12,162 shares in the last quarter. 29.15% of the stock is currently owned by institutional investors.
MCC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods set a $6.00 price target on Medley Capital and gave the stock a “hold” rating in a research note on Friday, December 8th. Zacks Investment Research downgraded Medley Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 4th. National Securities reaffirmed a “neutral” rating and set a $6.00 price target on shares of Medley Capital in a research note on Thursday, December 7th. Finally, ValuEngine downgraded Medley Capital from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $6.17.
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About Medley Capital
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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