Medley Capital Corporation (MCC) Sets New 52-Week Low at $5.95
Medley Capital Corporation (NYSE:MCC)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.95 and last traded at $5.95, with a volume of 293,129 shares traded. The stock had previously closed at $5.96.
Several brokerages have recently issued reports on MCC. National Securities reaffirmed a “neutral” rating and issued a $6.00 price objective on shares of Medley Capital Corporation in a research note on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $6.50 price objective on shares of Medley Capital Corporation in a research note on Wednesday, August 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Medley Capital Corporation in a research note on Wednesday, August 16th. ValuEngine raised shares of Medley Capital Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Medley Capital Corporation has a consensus rating of “Hold” and an average price target of $7.00.
The firm has a 50-day moving average of $6.25 and a 200-day moving average of $6.77.
Medley Capital Corporation (NYSE:MCC) last posted its earnings results on Wednesday, August 9th. The investment management company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Medley Capital Corporation had a positive return on equity of 8.04% and a negative net margin of 6.07%. The business had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $24.67 million. During the same period in the prior year, the business earned $0.20 EPS. On average, equities analysts predict that Medley Capital Corporation will post $0.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Wednesday, August 23rd will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, August 21st. This represents a $0.64 dividend on an annualized basis and a yield of 10.76%. Medley Capital Corporation’s payout ratio is -640.00%.
In other Medley Capital Corporation news, Director Seth Taube purchased 12,109 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was bought at an average cost of $6.40 per share, with a total value of $77,497.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brook Taube purchased 92,116 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were acquired at an average cost of $6.35 per share, with a total value of $584,936.60. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,315,301 shares of company stock valued at $14,639,452. 8.70% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. WFG Advisors LP grew its stake in shares of Medley Capital Corporation by 21.5% during the 2nd quarter. WFG Advisors LP now owns 86,581 shares of the investment management company’s stock worth $553,000 after acquiring an additional 15,313 shares in the last quarter. Wasatch Advisors Inc. bought a new position in shares of Medley Capital Corporation during the 2nd quarter worth approximately $262,000. Tower Research Capital LLC TRC bought a new position in shares of Medley Capital Corporation during the 2nd quarter worth approximately $201,000. Cubist Systematic Strategies LLC bought a new position in shares of Medley Capital Corporation during the 2nd quarter worth approximately $158,000. Finally, Ares Management LLC grew its stake in shares of Medley Capital Corporation by 0.5% during the 2nd quarter. Ares Management LLC now owns 966,210 shares of the investment management company’s stock worth $6,174,000 after acquiring an additional 4,500 shares in the last quarter. 29.55% of the stock is owned by institutional investors.
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About Medley Capital Corporation
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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