Medley Management (MDLY) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Medley Management (NYSE:MDLY) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $7.50 target price on the asset manager’s stock.
According to Zacks, “Medley Management Inc. is an asset management firm. It engages in providing institutional and retail investors with yield-oriented investment products that pay periodic dividends or distributions. The Company focuses on credit-related investment strategies, primarily originating senior secured loans to private middle market companies in the United States. Medley Management Inc. is based in New York. “
Separately, ValuEngine upgraded shares of Medley Management from a hold rating to a buy rating in a research note on Friday, December 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Medley Management has a consensus rating of Hold and a consensus target price of $8.67.
Medley Management (NYSE:MDLY) last released its quarterly earnings results on Tuesday, November 14th. The asset manager reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). Medley Management had a negative return on equity of 35.40% and a net margin of 3.14%. The firm had revenue of $16.65 million for the quarter, compared to the consensus estimate of $19.00 million. During the same quarter in the previous year, the business posted $0.14 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. equities research analysts expect that Medley Management will post 0.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Stockholders of record on Friday, November 24th were paid a $0.20 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 12.31%. Medley Management’s dividend payout ratio is currently 363.65%.
Several large investors have recently added to or reduced their stakes in MDLY. State Street Corp increased its stake in shares of Medley Management by 9.6% in the 2nd quarter. State Street Corp now owns 92,904 shares of the asset manager’s stock valued at $603,000 after acquiring an additional 8,158 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Medley Management by 5.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 82,107 shares of the asset manager’s stock valued at $534,000 after acquiring an additional 4,442 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Medley Management by 0.6% in the 2nd quarter. Northern Trust Corp now owns 62,636 shares of the asset manager’s stock valued at $407,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 56.88% of the company’s stock.
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About Medley Management
Medley Management Inc is an asset management firm offering yield solutions to retail and institutional investors. The Company operates in the investment management segment. It is focused on credit-related investment strategies, primarily originating senior secured loans to private middle market companies in the United States.
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