Medley Capital Corporation (MCC) Reaches New 12-Month Low at $5.95
Shares of Medley Capital Corporation (NYSE:MCC) hit a new 52-week low during 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 recently commented on MCC. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $7.00 price target on shares of Medley Capital Corporation in a research report on Wednesday, August 16th. Jefferies Group LLC restated a “hold” rating and issued a $6.50 target price on shares of Medley Capital Corporation in a report on Wednesday, August 16th. Zacks Investment Research cut Medley Capital Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. National Securities restated a “neutral” rating and issued a $6.00 target price on shares of Medley Capital Corporation in a report on Monday, August 14th. Finally, ValuEngine upgraded Medley Capital Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $7.00.
The company’s 50-day moving average is $6.23 and its 200 day moving average is $6.75.
Medley Capital Corporation (NYSE:MCC) last released its quarterly earnings results on Wednesday, August 9th. The investment management company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $23.70 million during the quarter, compared to the consensus estimate of $24.67 million. Medley Capital Corporation had a positive return on equity of 8.04% and a negative net margin of 6.07%. During the same quarter last year, the business posted $0.20 earnings per share. On average, equities research analysts predict that Medley Capital Corporation will post $0.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 10.88%. The ex-dividend date of this dividend is Monday, August 21st. Medley Capital Corporation’s payout ratio is -640.00%.
In other Medley Capital Corporation news, CEO Brook Taube acquired 50,049 shares of the stock in a transaction dated Wednesday, July 5th. The stock was acquired at an average price of $6.40 per share, with a total value of $320,313.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Seth Taube acquired 12,109 shares of the stock in a transaction dated Monday, July 10th. The stock was acquired at an average cost of $6.40 per share, with a total value of $77,497.60. The disclosure for this purchase can be found here. Insiders have acquired 1,847,380 shares of company stock valued at $11,714,945 in the last three months. 8.70% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Airain ltd grew its position in shares of Medley Capital Corporation by 2.7% in the second quarter. Airain ltd now owns 17,362 shares of the investment management company’s stock valued at $111,000 after purchasing an additional 462 shares during the period. BB&T Securities LLC purchased a new stake in shares of Medley Capital Corporation in the second quarter valued at $112,000. Malaga Cove Capital LLC grew its position in shares of Medley Capital Corporation by 23.7% in the second quarter. Malaga Cove Capital LLC now owns 17,200 shares of the investment management company’s stock valued at $114,000 after purchasing an additional 3,300 shares during the period. Global X Management Co. LLC grew its position in shares of Medley Capital Corporation by 50.7% in the first quarter. Global X Management Co. LLC now owns 16,517 shares of the investment management company’s stock valued at $127,000 after purchasing an additional 5,560 shares during the period. Finally, Stephens Inc. AR purchased a new stake in shares of Medley Capital Corporation in the first quarter valued at $140,000. 29.55% of the stock is owned by institutional investors and hedge funds.
Medley Capital Corporation Company Profile
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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