Ausdal Financial Partners Inc. purchased a new stake in Medley Capital Corp. (NYSE:MCC) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 50,808 shares of the investment management company’s stock, valued at approximately $340,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Cue Financial Group Inc. raised its position in shares of Medley Capital Corp. by 0.6% in the second quarter. Cue Financial Group Inc. now owns 224,200 shares of the investment management company’s stock worth $1,502,000 after buying an additional 1,300 shares during the last quarter. BlackRock Group LTD raised its position in shares of Medley Capital Corp. by 8.5% in the first quarter. BlackRock Group LTD now owns 274,984 shares of the investment management company’s stock worth $1,815,000 after buying an additional 21,625 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Medley Capital Corp. during the second quarter worth about $3,619,000. Finally, Confluence Investment Management LLC raised its position in shares of Medley Capital Corp. by 18.0% in the second quarter. Confluence Investment Management LLC now owns 657,221 shares of the investment management company’s stock worth $4,403,000 after buying an additional 100,300 shares during the last quarter. 28.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medley Capital Corp. (NYSE:MCC) traded up 0.65% on Monday, reaching $7.71. The company had a trading volume of 332,893 shares. Medley Capital Corp. has a 12 month low of $5.26 and a 12 month high of $8.10. The company’s 50-day moving average is $7.55 and its 200 day moving average is $7.06.
Medley Capital Corp. (NYSE:MCC) last released its earnings results on Tuesday, August 9th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $28.41 million for the quarter, compared to the consensus estimate of $30.15 million. Medley Capital Corp. had a positive return on equity of 10.43% and a negative net margin of 31.75%. Medley Capital Corp.’s quarterly revenue was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities research analysts anticipate that Medley Capital Corp. will post $0.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Wednesday, August 24th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 11.49%. The ex-dividend date of this dividend was Monday, August 22nd. Medley Capital Corp.’s dividend payout ratio is currently -122.22%.
A number of brokerages have issued reports on MCC. Zacks Investment Research raised Medley Capital Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. Jefferies Group reaffirmed a “hold” rating on shares of Medley Capital Corp. in a research report on Friday, August 12th. FBR & Co reaffirmed a “hold” rating on shares of Medley Capital Corp. in a research report on Wednesday, August 10th. Finally, National Securities reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Medley Capital Corp. in a research report on Thursday, August 11th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Medley Capital Corp. has an average rating of “Hold” and an average target price of $7.67.
In other Medley Capital Corp. news, CEO Brook Taube purchased 20,000 shares of the stock in a transaction on Thursday, September 1st. The shares were purchased at an average price of $7.49 per share, with a total value of $149,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Seth Taube purchased 115,100 shares of the stock in a transaction on Thursday, October 6th. The shares were acquired at an average cost of $7.60 per share, for a total transaction of $874,760.00. The disclosure for this purchase can be found here. 0.74% of the stock is owned by corporate insiders.
Medley Capital Corp. Company Profile
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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