Medley Capital Corp. (MCC) Receives Average Rating of “Hold” from Brokerages
Shares of Medley Capital Corp. (NYSE:MCC) have received a consensus recommendation of “Hold” from the ten analysts that are currently covering the company. Seven analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.80.
A number of research analysts have commented on MCC shares. FBR & Co restated a “hold” rating on shares of Medley Capital Corp. in a research note on Wednesday, August 10th. Jefferies Group restated a “hold” rating and issued a $7.00 price objective on shares of Medley Capital Corp. in a research note on Tuesday, October 25th. Zacks Investment Research upgraded shares of Medley Capital Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 12th. Finally, National Securities restated a “neutral” rating and issued a $7.00 price objective on shares of Medley Capital Corp. in a research note on Thursday, August 11th.
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Shares of Medley Capital Corp. (NYSE:MCC) opened at 7.85 on Wednesday. The firm has a 50-day moving average of $7.72 and a 200-day moving average of $7.27. Medley Capital Corp. has a 12-month low of $5.26 and a 12-month high of $8.10.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Wednesday, November 23rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 11.21%. The ex-dividend date is Monday, November 21st. Medley Capital Corp.’s dividend payout ratio is currently -122.22%.
In related news, CEO Brook Taube acquired 382,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were purchased at an average price of $7.25 per share, with a total value of $2,771,675.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Seth Taube acquired 115,100 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were bought at an average cost of $7.60 per share, for a total transaction of $874,760.00. The disclosure for this purchase can be found here. Corporate insiders own 0.74% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MCC. PVG Asset Management Corp bought a new stake in Medley Capital Corp. during the third quarter worth approximately $7,438,000. Ares Management LLC increased its stake in Medley Capital Corp. by 78.7% in the third quarter. Ares Management LLC now owns 800,345 shares of the investment management company’s stock worth $6,107,000 after buying an additional 352,467 shares in the last quarter. UBS Group AG increased its stake in Medley Capital Corp. by 12.6% in the third quarter. UBS Group AG now owns 676,632 shares of the investment management company’s stock worth $5,162,000 after buying an additional 75,549 shares in the last quarter. Confluence Investment Management LLC increased its stake in 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 worth $4,403,000 after buying an additional 100,300 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Medley Capital Corp. by 114.3% in the third quarter. Wells Fargo & Company MN now owns 640,514 shares of the investment management company’s stock worth $4,887,000 after buying an additional 341,616 shares in the last quarter. 31.73% of the stock is currently owned by hedge funds and other 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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