Crescent Grove Advisors LLC purchased a new position in shares of Medley Capital Corporation (NYSE:MCC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 39,775 shares of the investment management company’s stock, valued at approximately $254,000.
Several other large investors have also recently added to or reduced their stakes in MCC. Sumitomo Mitsui Asset Management Company LTD raised its stake in Medley Capital Corporation by 86.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 407,486 shares of the investment management company’s stock worth $3,133,000 after buying an additional 188,439 shares in the last quarter. Bank of Montreal Can raised its stake in Medley Capital Corporation by 2.8% in the first quarter. Bank of Montreal Can now owns 555,000 shares of the investment management company’s stock worth $4,268,000 after buying an additional 15,000 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Medley Capital Corporation during the first quarter worth about $1,451,000. Malaga Cove Capital LLC raised its stake in Medley Capital Corporation by 6.9% in the first quarter. Malaga Cove Capital LLC now owns 13,900 shares of the investment management company’s stock worth $114,000 after buying an additional 900 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Medley Capital Corporation by 28.5% in the first quarter. Janney Montgomery Scott LLC now owns 428,405 shares of the investment management company’s stock worth $3,294,000 after buying an additional 94,917 shares in the last quarter. Institutional investors and hedge funds own 36.29% of the company’s stock.
Shares of Medley Capital Corporation (NYSE:MCC) opened at 6.44 on Friday. The stock’s 50 day moving average is $6.41 and its 200-day moving average is $7.00. Medley Capital Corporation has a 12-month low of $5.95 and a 12-month high of $8.06.
Medley Capital Corporation (NYSE:MCC) last announced its quarterly earnings results on Wednesday, August 9th. The investment management company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $23.70 million for the quarter, compared to the consensus estimate of $24.67 million. Medley Capital Corporation had a negative net margin of 6.07% and a positive return on equity of 8.04%. During the same period last year, the company posted $0.20 EPS. Equities research analysts forecast that Medley Capital Corporation will post $0.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, August 21st. This represents a $0.64 annualized dividend and a yield of 9.94%. Medley Capital Corporation’s dividend payout ratio (DPR) is currently -640.00%.
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A number of equities research analysts have recently issued reports on MCC shares. Keefe, Bruyette & Woods lowered shares of Medley Capital Corporation from an “outperform” rating to a “market perform” rating and cut their price target for the company from $8.50 to $7.00 in a report on Tuesday, May 9th. BidaskClub lowered shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and set a $6.50 price target on shares of Medley Capital Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Medley Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, National Securities cut their price target on shares of Medley Capital Corporation from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $7.00.
In related news, Director Seth Taube bought 230,137 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $6.16 per share, for a total transaction of $1,417,643.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brook Taube bought 436,127 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average price of $6.08 per share, for a total transaction of $2,651,652.16. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,247,047 shares of company stock worth $38,698,045 over the last 90 days. Corporate insiders own 8.70% of the company’s stock.
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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