Municipal Employees Retirement System of Michigan Acquires Shares of 111,540 Medley Management Inc (MDLY)
Municipal Employees Retirement System of Michigan acquired a new stake in shares of Medley Management Inc (NASDAQ:MDLY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 111,540 shares of the company’s stock, valued at approximately $725,000.
Other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Medley Management by 86.2% in the fourth quarter. Renaissance Technologies LLC now owns 119,748 shares of the company’s stock worth $1,186,000 after buying an additional 55,448 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Medley Management by 217.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,948 shares of the company’s stock worth $124,000 after buying an additional 10,232 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Medley Management by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 47,084 shares of the company’s stock worth $391,000 after buying an additional 3,208 shares during the last quarter. KCG Holdings Inc. acquired a new position in Medley Management during the first quarter worth approximately $120,000. Finally, TIAA CREF Investment Management LLC boosted its position in Medley Management by 6.0% in the first quarter. TIAA CREF Investment Management LLC now owns 26,190 shares of the company’s stock worth $217,000 after buying an additional 1,482 shares during the last quarter.
Shares of Medley Management Inc (NASDAQ:MDLY) opened at 6.55 on Wednesday. The firm’s 50 day moving average is $6.45 and its 200-day moving average is $7.48. The company has a market cap of $36.60 million and a PE ratio of 40.94. Medley Management Inc has a 1-year low of $5.60 and a 1-year high of $10.65.
Medley Management (NASDAQ:MDLY) last posted its earnings results on Thursday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The business had revenue of $16.40 million for the quarter, compared to analyst estimates of $17.97 million. Medley Management’s quarterly revenue was down 23.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. Equities analysts expect that Medley Management Inc will post $0.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 12.21%. The ex-dividend date of this dividend is Monday, August 21st.
Several brokerages have issued reports on MDLY. Keefe, Bruyette & Woods set a $7.00 price objective on shares of Medley Management and gave the stock a “hold” rating in a research report on Friday, May 12th. Ladenburg Thalmann Financial Services downgraded shares of Medley Management from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.21.
Medley Management Company Profile
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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