MVC Capital, Inc. (MVC) Stake Lessened by Royce & Associates LP
Royce & Associates LP trimmed its holdings in MVC Capital, Inc. (NYSE:MVC) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 766,688 shares of the investment management company’s stock after selling 75,495 shares during the period. Royce & Associates LP owned 4.07% of MVC Capital worth $7,399,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ancora Advisors LLC increased its stake in MVC Capital by 4.8% in the 3rd quarter. Ancora Advisors LLC now owns 279,198 shares of the investment management company’s stock worth $2,694,000 after purchasing an additional 12,783 shares in the last quarter. Advisors Asset Management Inc. grew its stake in MVC Capital by 32.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 153,202 shares of the investment management company’s stock valued at $1,455,000 after acquiring an additional 37,128 shares in the last quarter. Arlington Financial Advisors LLC purchased a new position in MVC Capital during the 2nd quarter valued at about $113,000. West Family Investments Inc. grew its stake in MVC Capital by 8.6% during the 2nd quarter. West Family Investments Inc. now owns 1,200,397 shares of the investment management company’s stock valued at $11,404,000 after acquiring an additional 95,000 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in MVC Capital during the 2nd quarter valued at about $150,000. 41.41% of the stock is owned by institutional investors.
Several equities analysts have weighed in on MVC shares. Zacks Investment Research raised MVC Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. TheStreet cut MVC Capital from a “b” rating to a “c” rating in a research note on Thursday, September 20th. ValuEngine raised MVC Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Maxim Group reaffirmed a “buy” rating and set a $12.50 target price on shares of MVC Capital in a research note on Thursday, September 27th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $12.25.
MVC Capital (NYSE:MVC) last announced its quarterly earnings results on Monday, September 10th. The investment management company reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $6.21 million during the quarter. MVC Capital had a positive return on equity of 1.45% and a negative net margin of 55.08%. Equities analysts expect that MVC Capital, Inc. will post 0.23 earnings per share for the current fiscal year.
In other news, Director Phillip Goldstein sold 5,291 shares of MVC Capital stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $9.75, for a total transaction of $51,587.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 492,429 shares of company stock valued at $4,643,031. 12.58% of the stock is owned by corporate insiders.
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About MVC Capital
MVC Capital, Inc is a business development company specializing in equity, acquisition financing, mezzanine financing, management buyouts, leveraged buildups, corporate partnerships, PIPE transactions, going private transactions, private company recapitalizations, operational turnarounds, and growth and expansion capital transaction financing.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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