Medley Capital Corporation (MCC) Given Hold Rating at Jefferies Group LLC
Medley Capital Corporation (NYSE:MCC)‘s stock had its “hold” rating restated by equities researchers at Jefferies Group LLC in a research report issued on Wednesday. They presently have a $6.50 price objective on the investment management company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 4.17% from the company’s current price.
MCC has been the topic of several other reports. National Securities reaffirmed a “neutral” rating and issued a $6.00 price target on shares of Medley Capital Corporation in a research report on Monday, August 14th. Zacks Investment Research raised Medley Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods downgraded Medley Capital Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $8.50 to $7.00 in a research report on Tuesday, May 9th. Finally, BidaskClub downgraded Medley Capital Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Medley Capital Corporation presently has an average rating of “Hold” and a consensus target price of $7.00.
Medley Capital Corporation (MCC) traded down 0.64% during trading on Wednesday, hitting $6.24. The stock had a trading volume of 376,362 shares. Medley Capital Corporation has a 1-year low of $5.95 and a 1-year high of $8.06. The firm’s 50-day moving average price is $6.40 and its 200-day moving average price is $6.96.
Medley Capital Corporation (NYSE:MCC) last issued its quarterly earnings results on Wednesday, August 9th. The investment management company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $23.70 million for 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 period last year, the business posted $0.20 earnings per share. Equities analysts forecast that Medley Capital Corporation will post $0.68 earnings per share for the current fiscal year.
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In other news, Director Brook Taube bought 276,593 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average cost of $6.36 per share, with a total value of $1,759,131.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Seth Taube bought 12,109 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were purchased at an average cost of $6.40 per share, for a total transaction of $77,497.60. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 5,712,782 shares of company stock worth $35,394,807. 8.70% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. WFG Advisors LP boosted its position in shares of Medley Capital Corporation by 21.5% in the second quarter. WFG Advisors LP now owns 86,581 shares of the investment management company’s stock worth $553,000 after buying an additional 15,313 shares in the last quarter. Wasatch Advisors Inc. acquired a new position in shares of Medley Capital Corporation during the second quarter worth approximately $262,000. Tower Research Capital LLC TRC acquired a new position in shares of Medley Capital Corporation during the second quarter worth approximately $201,000. Cubist Systematic Strategies LLC acquired a new position in shares of Medley Capital Corporation during the second quarter worth approximately $158,000. Finally, Ares Management LLC boosted its position in shares of Medley Capital Corporation by 0.5% in the second quarter. Ares Management LLC now owns 966,210 shares of the investment management company’s stock worth $6,174,000 after buying an additional 4,500 shares in the last quarter. 36.48% of the stock is currently 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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