Medley Management Inc (MDLY) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “Medley Management Inc. is an asset management firm. It engages in providing institutional and retail investors with yield-oriented investment products that pay periodic dividends or distributions. The Company focuses on credit-related investment strategies, primarily originating senior secured loans to private middle market companies in the United States. Medley Management Inc. is based in New York. “
Several other research firms also recently weighed in on MDLY. Keefe, Bruyette & Woods increased their target price on Medley Management from $5.50 to $7.50 and gave the stock a market perform rating in a research report on Friday, August 12th. Ladenburg Thalmann downgraded Medley Management from a buy rating to a neutral rating and increased their target price for the stock from $6.00 to $7.50 in a research report on Wednesday, August 17th. Deutsche Bank AG downgraded Medley Management from a buy rating to a hold rating and increased their target price for the stock from $9.00 to $10.50 in a research report on Thursday. FBR & Co reiterated a hold rating and set a $7.00 target price on shares of Medley Management in a research report on Friday, August 12th. Finally, Credit Suisse Group AG reiterated a hold rating and set a $8.00 target price on shares of Medley Management in a research report on Monday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $8.29.
Medley Management (NASDAQ:MDLY) opened at 9.85 on Thursday. The stock’s 50 day moving average price is $8.98 and its 200-day moving average price is $7.42. The firm has a market capitalization of $56.90 million and a P/E ratio of 169.83. Medley Management has a 12 month low of $3.43 and a 12 month high of $10.65.
Medley Management (NASDAQ:MDLY) last posted its quarterly earnings data on Monday, November 14th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.02. The company earned $18.88 million during the quarter, compared to analyst estimates of $21.18 million. The firm’s revenue was up 247.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, analysts forecast that Medley Management will post $0.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.96%.
In other news, major shareholder Mangrove Partners Fund (Cayman sold 95,370 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $7.34, for a total value of $700,015.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
A number of large investors have recently modified their holdings of MDLY. Acrospire Investment Management LLC raised its stake in shares of 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 during the period. Spark Investment Management LLC acquired a new stake in shares of Medley Management during the third quarter worth $236,000. JPMorgan Chase & Co. raised its stake in shares of 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 during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 during the period.
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.
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