Medley Management Inc (MDLY) Releases Earnings Results, Misses Expectations By $0.02 EPS
Medley Management Inc (NASDAQ:MDLY) announced its quarterly earnings results on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.02. The business earned $18.88 million during the quarter, compared to the consensus estimate of $21.18 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 247.7% compared to the same quarter last year.
Shares of Medley Management (NASDAQ:MDLY) opened at 9.50 on Wednesday. The stock has a market capitalization of $54.88 million and a PE ratio of 163.79. The stock has a 50 day moving average price of $8.89 and a 200-day moving average price of $7.38. Medley Management has a 52-week low of $3.43 and a 52-week high of $10.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.42%. The ex-dividend date is Friday, November 18th.
MDLY has been the subject of a number of analyst reports. Zacks Investment Research raised Medley Management from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Keefe, Bruyette & Woods boosted their price target on Medley Management from $5.50 to $7.50 and gave the company a “market perform” rating in a report on Friday, August 12th. FBR & Co reissued a “hold” rating and issued a $7.00 price target on shares of Medley Management in a report on Friday, August 12th. Deutsche Bank AG boosted their price target on Medley Management from $6.25 to $9.00 and gave the company a “buy” rating in a report on Tuesday, August 16th. Finally, Ladenburg Thalmann downgraded Medley Management from a “buy” rating to a “neutral” rating and boosted their price target for the company from $6.00 to $7.50 in a report on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $8.04.
In related news, major shareholder Mangrove Partners Fund (Cayman sold 95,370 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $7.34, for a total transaction of $700,015.80. The transaction was disclosed in a filing with the SEC, which is available at this link.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in Medley Management by 185.1% in the third quarter. Acrospire Investment Management LLC now owns 16,142 shares of the company’s stock worth $136,000 after buying an additional 10,480 shares in the last quarter. JPMorgan Chase & Co. increased its position in Medley Management by 2,811.9% in the third quarter. JPMorgan Chase & Co. now owns 24,140 shares of the company’s stock worth $203,000 after buying an additional 23,311 shares in the last quarter. Spark Investment Management LLC purchased a new position in Medley Management during the third quarter worth about $236,000. Finally, Bank of New York Mellon Corp increased its position in Medley Management by 5.8% in the third quarter. Bank of New York Mellon Corp now owns 46,939 shares of the company’s stock worth $394,000 after buying an additional 2,573 shares in the last quarter.
Medley Management Company Profile
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.
Receive News & Stock Ratings for Medley Management Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medley Management Inc and related stocks with our FREE daily email newsletter.