Medley Capital Corp. (MCC) Sees Large Volume Increase
Shares of Medley Capital Corp. (NYSE:MCC) saw an uptick in trading volume on Tuesday . 729,136 shares traded hands 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 research firms have recently weighed in on MCC. Zacks Investment Research raised Medley Capital Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Janney Montgomery Scott reaffirmed a “buy” rating on shares of Medley Capital Corp. in a research note on Wednesday, April 27th. FBR & Co dropped their price objective on Medley Capital Corp. from $8.50 to $7.00 and set a “mkt perform” rating for the company in a research note on Monday, May 9th. National Securities reaffirmed a “neutral” rating and issued a $7.00 price objective (down previously from $8.00) on shares of Medley Capital Corp. in a research note on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Medley Capital Corp. in a research note on Tuesday, May 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Medley Capital Corp. currently has an average rating of “Hold” and a consensus target price of $7.86.
The company has a 50 day moving average price of $7.13 and a 200-day moving average price of $6.63.
Medley Capital Corp. (NYSE:MCC) last released its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. The company had revenue of $28.41 million for the quarter, compared to analysts’ expectations of $30.15 million. The business’s quarterly revenue was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. Equities analysts anticipate that Medley Capital Corp. will post $1.05 earnings per share for the current year.
A hedge fund recently raised its stake in Medley Capital Corp. stock. Bank of Montreal Can increased its position in shares of Medley Capital Corp. (NYSE:MCC) by 592.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the SEC.
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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