Insider Buying: Medley Capital Corp. (MCC) CEO Buys 4,450 Shares of Stock
Medley Capital Corp. (NYSE:MCC) CEO Brook Taube bought 4,450 shares of Medley Capital Corp. stock in a transaction dated Monday, October 17th. The shares were bought at an average price of $7.60 per share, for a total transaction of $33,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Brook Taube also recently made the following trade(s):
- On Friday, September 16th, Brook Taube bought 281,300 shares of Medley Capital Corp. stock. The shares were bought at an average price of $7.15 per share, for a total transaction of $2,011,295.00.
- On Tuesday, September 13th, Brook Taube bought 382,300 shares of Medley Capital Corp. stock. The shares were bought at an average price of $7.25 per share, for a total transaction of $2,771,675.00.
- On Thursday, September 1st, Brook Taube bought 20,000 shares of Medley Capital Corp. stock. The shares were bought at an average price of $7.49 per share, for a total transaction of $149,800.00.
- On Monday, August 22nd, Brook Taube bought 100,000 shares of Medley Capital Corp. stock. The shares were bought at an average price of $7.55 per share, for a total transaction of $755,000.00.
Shares of Medley Capital Corp. (NYSE:MCC) traded up 0.78% during midday trading on Monday, reaching $7.72. 444,935 shares of the company’s stock traded hands. Medley Capital Corp. has a 52-week low of $5.26 and a 52-week high of $8.10. The stock has a 50-day moving average price of $7.55 and a 200-day moving average price of $7.07.
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Medley Capital Corp. (NYSE:MCC) last issued its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.26. The firm had revenue of $28.41 million for the quarter, compared to the consensus estimate of $30.15 million. Medley Capital Corp. had a negative net margin of 31.75% and a positive return on equity of 10.43%. The company’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 EPS. On average, equities analysts predict that Medley Capital Corp. will post $0.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Wednesday, August 24th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.88 annualized dividend and a dividend yield of 11.40%. Medley Capital Corp.’s dividend payout ratio is currently -122.22%.
MCC has been the topic of a number of research reports. National Securities reiterated a “neutral” rating and set a $7.00 target price on shares of Medley Capital Corp. in a research report on Thursday, August 11th. FBR & Co reissued a “hold” rating on shares of Medley Capital Corp. in a research note on Wednesday, August 10th. Jefferies Group reissued a “hold” rating on shares of Medley Capital Corp. in a research note on Friday, August 12th. Finally, Zacks Investment Research downgraded shares of Medley Capital Corp. from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $7.67.
Several hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in Medley Capital Corp. by 8.3% in the second quarter. IFP Advisors Inc now owns 16,559 shares of the investment management company’s stock valued at $111,000 after buying an additional 1,269 shares in the last quarter. PineBridge Investments L.P. raised its stake in Medley Capital Corp. by 37.6% in the second quarter. PineBridge Investments L.P. now owns 17,227 shares of the investment management company’s stock valued at $115,000 after buying an additional 4,711 shares in the last quarter. Citadel Advisors LLC bought a new stake in Medley Capital Corp. during the second quarter valued at $162,000. WFG Advisors LP raised its stake in Medley Capital Corp. by 2.9% in the second quarter. WFG Advisors LP now owns 43,268 shares of the investment management company’s stock valued at $290,000 after buying an additional 1,200 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Medley Capital Corp. during the second quarter valued at $291,000. Institutional investors own 28.31% of the company’s stock.
Medley Capital Corp. 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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