According to Zacks, “Medley Capital Corporation is a closed-end, externally managed investment company. Medley Capital Corporation’s objective is to generate current income and capital appreciation by lending directly to privately-held small and middle market companies to help these companies fund acquisitions, growth or refinancing. Their portfolio will generally consist of first lien senior secured loans, and, to a lesser extent, second lien secured loans. In many of their investments, they will get warrants or other equity participation features which they believe will increase the total investment returns. “
Other research analysts have also recently issued research reports about the company. FBR & Co reiterated a hold rating on shares of Medley Capital Corp. in a research report on Wednesday, August 10th. Jefferies Group reiterated a hold rating on shares of Medley Capital Corp. in a research report on Friday, August 12th. Finally, National Securities restated a neutral rating and issued a $7.00 price target on shares of Medley Capital Corp. in a research report on Thursday, August 11th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $7.67.
Medley Capital Corp. (NYSE:MCC) opened at 7.72 on Wednesday. The company’s 50-day moving average is $7.55 and its 200 day moving average is $7.07. Medley Capital Corp. has a 12 month low of $5.26 and a 12 month high of $8.10.
Medley Capital Corp. (NYSE:MCC) last posted its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Medley Capital Corp. had a positive return on equity of 10.43% and a negative net margin of 31.75%. The business had revenue of $28.41 million for the quarter, compared to analysts’ expectations of $30.15 million. During the same quarter in the prior year, the business earned $0.30 EPS. The firm’s revenue for the quarter was down 21.0% on a year-over-year basis. Analysts predict that Medley Capital Corp. will post $0.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Wednesday, August 24th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 11.40%. The ex-dividend date was Monday, August 22nd. Medley Capital Corp.’s dividend payout ratio (DPR) is presently -122.22%.
In other news, Director Seth Taube purchased 171,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were purchased at an average cost of $7.69 per share, with a total value of $1,314,990.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brook Taube purchased 382,300 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were purchased at an average cost of $7.25 per share, for a total transaction of $2,771,675.00. The disclosure for this purchase can be found here. 0.74% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Medley Capital Corp. by 8.3% in the second quarter. IFP Advisors Inc now owns 16,559 shares of the investment management company’s stock worth $111,000 after buying an additional 1,269 shares during the last quarter. PineBridge Investments L.P. raised its stake in shares of Medley Capital Corp. by 37.6% in the second quarter. PineBridge Investments L.P. now owns 17,227 shares of the investment management company’s stock worth $115,000 after buying an additional 4,711 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Medley Capital Corp. during the second quarter worth approximately $162,000. WFG Advisors LP raised its stake in shares of Medley Capital Corp. by 2.9% in the second quarter. WFG Advisors LP now owns 43,268 shares of the investment management company’s stock worth $290,000 after buying an additional 1,200 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Medley Capital Corp. during the second quarter worth approximately $291,000. 28.31% of the stock is currently owned by hedge funds and other institutional investors.
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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