TIAA CREF Investment Management LLC Increases Stake in Medley Management Inc (MDLY)
TIAA CREF Investment Management LLC raised its stake in Medley Management Inc (NASDAQ:MDLY) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,190 shares of the company’s stock after buying an additional 1,482 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.45% of Medley Management worth $217,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MDLY. 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 valued at $124,000 after buying an additional 10,232 shares during the period. 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 valued at $391,000 after buying an additional 3,208 shares during the period. Finally, West Family Investments Inc. purchased a new position in Medley Management during the first quarter valued at approximately $333,000.
Medley Management Inc (NASDAQ MDLY) traded up 4.24% on Thursday, hitting $6.15. 26,078 shares of the stock traded hands. Medley Management Inc has a 12-month low of $5.60 and a 12-month high of $10.65. The stock has a market cap of $32.71 million and a P/E ratio of 30.75. The stock has a 50-day moving average price of $6.36 and a 200 day moving average price of $7.31.
Medley Management (NASDAQ:MDLY) last posted its earnings results on Thursday, August 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $17.97 million. The company’s revenue was down 23.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 earnings per share. On average, equities analysts expect that Medley Management Inc will post $0.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 23rd will be issued a $0.20 dividend. The ex-dividend date is Monday, August 21st. This represents a $0.80 dividend on an annualized basis and a yield of 13.56%.
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Several research analysts have commented on MDLY shares. Keefe, Bruyette & Woods set a $7.00 target price on shares of Medley Management and gave the stock a “hold” rating in a research report on Friday, May 12th. Ladenburg Thalmann Financial Services cut shares of Medley Management from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. Six investment analysts have rated the stock with a hold rating, Medley Management presently has an average rating of “Hold” and a consensus price target of $9.20.
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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