Somewhat Favorable Press Coverage Somewhat Unlikely to Impact MVC Capital (MVC) Share Price
Headlines about MVC Capital (NYSE:MVC) have trended somewhat positive this week, according to Accern. The research group rates the sentiment of media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. MVC Capital earned a coverage optimism score of 0.08 on Accern’s scale. Accern also assigned media stories about the investment management company an impact score of 47.9021653118709 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Separately, TheStreet raised shares of MVC Capital from a “c” rating to a “b-” rating in a report on Monday, April 24th.
Shares of MVC Capital (NYSE:MVC) opened at 10.00 on Monday. MVC Capital has a 12-month low of $7.93 and a 12-month high of $10.47. The firm’s 50-day moving average is $10.17 and its 200-day moving average is $9.29.
MVC Capital (NYSE:MVC) last issued its earnings results on Thursday, June 8th. The investment management company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $3.93 million during the quarter. MVC Capital had a negative return on equity of 0.44% and a net margin of 44.33%. Analysts anticipate that MVC Capital will post $0.25 EPS for the current year.
MVC Capital announced that its Board of Directors has approved a share buyback plan on Friday, July 21st that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the investment management company to reacquire shares of its stock through a dutch auction. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 24th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date was Thursday, July 20th. MVC Capital’s dividend payout ratio (DPR) is presently 135.00%.
In other news, Director Phillip Goldstein sold 29,853 shares of MVC Capital stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $9.82, for a total value of $293,156.46. Following the completion of the transaction, the director now owns 37,250 shares of the company’s stock, valued at approximately $365,795. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 12.41% of the company’s stock.
About MVC Capital
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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