Brokerages Set $12.00 Price Target for MVC Capital, Inc. (MVC)

MVC Capital, Inc. (NYSE:MVC) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus target price of $12.00 for the company, according to Zacks. Zacks has also assigned MVC Capital an industry rank of 208 out of 265 based on the ratings given to related companies.

MVC has been the topic of several recent research reports. Zacks Investment Research raised shares of MVC Capital from a “sell” rating to a “hold” rating in a report on Saturday, March 10th. Ladenburg Thalmann Financial Services initiated coverage on shares of MVC Capital in a report on Thursday, January 11th. They set a “buy” rating and a $12.00 price objective on the stock. Maxim Group reaffirmed a “buy” rating and set a $12.50 price objective on shares of MVC Capital in a report on Thursday, March 15th. Finally, TheStreet downgraded shares of MVC Capital from a “b” rating to a “c+” rating in a report on Friday, December 29th.

In related news, Chairman Michael T. Tokarz purchased 2,500 shares of the firm’s stock in a transaction dated Monday, March 19th. The shares were purchased at an average cost of $10.12 per share, for a total transaction of $25,300.00. Following the completion of the transaction, the chairman now directly owns 943,543 shares in the company, valued at approximately $9,548,655.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael T. Tokarz purchased 10,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were bought at an average price of $10.55 per share, for a total transaction of $105,500.00. Following the completion of the transaction, the chairman now owns 941,043 shares of the company’s stock, valued at $9,928,003.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 13,500 shares of company stock worth $140,800. Insiders own 10.91% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of MVC Capital by 86.5% during the third quarter. JPMorgan Chase & Co. now owns 29,544 shares of the investment management company’s stock valued at $297,000 after buying an additional 13,706 shares during the period. City of London Investment Management Co. Ltd. increased its position in shares of MVC Capital by 59.7% during the third quarter. City of London Investment Management Co. Ltd. now owns 240,758 shares of the investment management company’s stock valued at $2,411,000 after buying an additional 89,985 shares during the period. Gendell Jeffrey L increased its position in shares of MVC Capital by 4.3% during the fourth quarter. Gendell Jeffrey L now owns 481,661 shares of the investment management company’s stock valued at $5,086,000 after buying an additional 20,000 shares during the period. Eagle Ridge Investment Management bought a new stake in shares of MVC Capital during the fourth quarter valued at about $630,000. Finally, Advisors Asset Management Inc. increased its position in shares of MVC Capital by 12.0% during the third quarter. Advisors Asset Management Inc. now owns 95,817 shares of the investment management company’s stock valued at $959,000 after buying an additional 10,250 shares during the period. Hedge funds and other institutional investors own 46.36% of the company’s stock.

Shares of MVC Capital stock traded down $0.16 during trading hours on Thursday, hitting $9.93. 32,805 shares of the company were exchanged, compared to its average volume of 32,657. The company has a current ratio of 41.20, a quick ratio of 41.20 and a debt-to-equity ratio of 0.44. MVC Capital has a 52 week low of $8.59 and a 52 week high of $10.97.

MVC Capital (NYSE:MVC) last issued its quarterly earnings results on Tuesday, January 16th. The investment management company reported $0.09 earnings per share for the quarter. The company had revenue of $5.49 million for the quarter. MVC Capital had a net margin of 108.96% and a negative return on equity of 1.84%. analysts expect that MVC Capital will post 0.18 EPS for the current year.

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MVC Capital Company Profile

MVC Capital, Inc is a non-diversified closed-end management investment company. The Company’s investment objective is to seek to maximize total return from capital appreciation and/or income. The Company’s segments are its investing operations as a business development company, which includes MVC Cayman and MVC Turf, LLC and MVC Financial Services, Inc (MVCFS).

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