Medley Capital Corporation (MCC) Shares Sold by Shikiar Asset Management Inc.
Shikiar Asset Management Inc. reduced its position in Medley Capital Corporation (NYSE:MCC) by 54.3% during the second quarter, Holdings Channel reports. The fund owned 61,000 shares of the investment management company’s stock after selling 72,500 shares during the period. Shikiar Asset Management Inc.’s holdings in Medley Capital Corporation were worth $390,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in 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 worth $4,268,000 after buying an additional 15,000 shares during the last quarter. Nationwide Fund Advisors increased its position in 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 worth $832,000 after buying an additional 22,894 shares in the last quarter. Sigma Planning Corp acquired a new position in Medley Capital Corporation during the first quarter worth $103,000. IFC Holdings Incorporated FL acquired a new position in Medley Capital Corporation during the first quarter worth $153,000. Finally, Founders Financial Securities LLC acquired a new position in Medley Capital Corporation during the first quarter worth $135,000. Institutional investors own 36.48% of the company’s stock.
Medley Capital Corporation (NYSE MCC) opened at 6.33 on Wednesday. The stock’s 50 day moving average is $6.41 and its 200-day moving average is $6.98. Medley Capital Corporation has a 12-month low of $5.95 and a 12-month 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $23.70 million for the quarter, compared to analyst estimates of $24.67 million. Medley Capital Corporation had a negative net margin of 6.07% and a positive return on equity of 8.04%. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Analysts forecast that Medley Capital Corporation will post $0.70 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Wednesday, August 23rd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.11%. The ex-dividend date of this dividend is Monday, August 21st. Medley Capital Corporation’s dividend payout ratio is presently -640.00%.
A number of research analysts have recently weighed in on MCC shares. Keefe, Bruyette & Woods downgraded shares of Medley Capital Corporation from an “outperform” rating to a “market perform” rating and cut their price target for the company from $8.50 to $7.00 in a report on Tuesday, May 9th. BidaskClub downgraded shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and set a $6.50 price target on shares of Medley Capital Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Medley Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, National Securities restated a “neutral” rating and set a $6.00 price target on shares of Medley Capital Corporation in a report on Monday. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $7.00.
In other news, Director Seth Taube purchased 12,109 shares of the company’s stock in a transaction on Monday, July 10th. The shares were purchased at an average cost of $6.40 per share, with a total value of $77,497.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brook Taube purchased 92,116 shares of the company’s stock in a transaction on Friday, July 7th. The shares were purchased at an average cost of $6.35 per share, for a total transaction of $584,936.60. The disclosure for this purchase can be found here. In the last three months, insiders bought 6,016,910 shares of company stock worth $37,280,401. 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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