Medley Capital Corp. (MCC) Upgraded to Hold by Zacks Investment Research
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. “
Several other equities research analysts have also recently weighed in on the company. FBR & Co reiterated a hold rating on shares of Medley Capital Corp. in a report on Wednesday, August 10th. Jefferies Group reiterated a hold rating on shares of Medley Capital Corp. in a report on Friday, August 12th. Finally, National Securities reiterated a neutral rating and issued a $7.00 price objective on shares of Medley Capital Corp. in a report on Thursday, August 11th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $7.67.
Medley Capital Corp. (NYSE:MCC) opened at 7.65 on Wednesday. The company has a 50 day moving average price of $7.54 and a 200-day moving average price of $7.04. Medley Capital Corp. has a 1-year low of $5.26 and a 1-year 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 (EPS) for the quarter, hitting the consensus estimate 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 analyst estimates of $30.15 million. During the same period last year, the company earned $0.30 EPS. Medley Capital Corp.’s revenue for the quarter was down 21.0% compared to the same quarter last year. Equities research analysts predict that Medley Capital Corp. will post $0.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Wednesday, August 24th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 11.50%. The ex-dividend date was Monday, August 22nd. Medley Capital Corp.’s payout ratio is currently -122.22%.
In other news, CEO Brook Taube acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was bought at an average price of $7.49 per share, with a total value of $149,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Seth Taube acquired 239,947 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average cost of $7.44 per share, with a total value of $1,785,205.68. The disclosure for this purchase can be found here. 0.74% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Group LTD raised its stake 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 valued at $1,815,000 after buying an additional 21,625 shares during the last quarter. Confluence Investment Management LLC raised its stake 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 valued at $4,403,000 after buying an additional 100,300 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Medley Capital Corp. by 43.8% in the second quarter. Janney Montgomery Scott LLC now owns 400,342 shares of the investment management company’s stock valued at $3,011,000 after buying an additional 121,971 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 valued at $115,000 after buying an additional 4,711 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 valued at approximately $291,000. 28.30% of the stock is owned by institutional investors.
About Medley Capital Corp.
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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