Medley Capital Corp. (MCC) Sees Strong Trading Volume
Medley Capital Corp. (NYSE:MCC) saw strong trading volume on Tuesday . 729,136 shares were traded during mid-day trading, an increase of 107% from the previous session’s volume of 352,750 shares.The stock last traded at $7.34 and had previously closed at $7.23.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Medley Capital Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday. Janney Montgomery Scott reaffirmed a “buy” rating and set a $10.00 price objective on shares of Medley Capital Corp. in a report on Thursday, May 12th. FBR & Co reaffirmed a “hold” rating on shares of Medley Capital Corp. in a report on Wednesday. National Securities reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Medley Capital Corp. in a report on Thursday. Finally, Jefferies Group reaffirmed a “hold” rating and set a $7.00 price objective on shares of Medley Capital Corp. in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.86.
The firm’s 50 day moving average is $7.15 and its 200 day moving average is $6.63.
Medley Capital Corp. (NYSE:MCC) last released its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The business earned $28.41 million during the quarter, compared to the consensus estimate of $30.15 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. Medley Capital Corp.’s quarterly revenue was down 21.0% compared to the same quarter last year. On average, analysts expect that Medley Capital Corp. will post $1.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, August 24th will be issued a $0.22 dividend. The ex-dividend date is Monday, August 22nd. This represents a $0.88 annualized dividend and a yield of 11.89%.
A hedge fund recently raised its stake in Medley Capital Corp. stock. Bank of Montreal Can raised its stake in Medley Capital Corp. (NYSE:MCC) by 592.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,000 shares of the investment management company’s stock after buying an additional 148,000 shares during the period. Bank of Montreal Can’s holdings in Medley Capital Corp. were worth $1,301,000 at the end of the most recent quarter.
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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