Short Interest in Medley Capital Corporation (MCC) Drops By 35.1%
Medley Capital Corporation (NYSE:MCC) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 494,620 shares, a drop of 35.1% from the August 31st total of 762,014 shares. Based on an average trading volume of 292,051 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.9% of the shares of the company are sold short.
Several equities analysts recently weighed in on the company. ValuEngine raised Medley Capital Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered Medley Capital Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research raised Medley Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $7.00 price target on shares of Medley Capital Corporation in a research report on Wednesday, August 16th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $6.50 price target on shares of Medley Capital Corporation in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.
In other news, CEO Brook Taube purchased 92,116 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $584,936.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Seth Taube purchased 248,097 shares of the firm’s stock in a transaction on Friday, July 7th. The shares were purchased at an average price of $6.37 per share, with a total value of $1,580,377.89. The disclosure for this purchase can be found here. Insiders purchased a total of 458,254 shares of company stock worth $2,918,658 in the last quarter. Insiders own 8.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MCC. WFG Advisors LP boosted its holdings in shares of Medley Capital Corporation by 21.5% during the 2nd 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 during the period. Wasatch Advisors Inc. acquired a new position in Medley Capital Corporation in the 2nd quarter valued at about $262,000. Tower Research Capital LLC TRC acquired a new position in Medley Capital Corporation in the 2nd quarter valued at about $201,000. Cubist Systematic Strategies LLC acquired a new position in Medley Capital Corporation in the 2nd quarter valued at about $158,000. Finally, Ares Management LLC grew its stake in Medley Capital Corporation by 0.5% in the 2nd quarter. Ares Management LLC now owns 966,210 shares of the investment management company’s stock valued at $6,174,000 after buying an additional 4,500 shares during the last quarter. Institutional investors own 29.55% of the company’s stock.
Medley Capital Corporation (NYSE:MCC) opened at 6.07 on Wednesday. Medley Capital Corporation has a 12-month low of $5.75 and a 12-month high of $8.06. The stock’s 50 day moving average is $6.00 and its 200 day moving average is $6.57.
Medley Capital Corporation (NYSE:MCC) last released its quarterly earnings data on Wednesday, August 9th. The investment management company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Medley Capital Corporation had a negative net margin of 6.07% and a positive return on equity of 8.04%. The firm had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $24.67 million. During the same period in the previous year, the business posted $0.20 earnings per share. Analysts forecast that Medley Capital Corporation will post $0.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Wednesday, August 23rd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 10.54%. The ex-dividend date of this dividend was Monday, August 21st. Medley Capital Corporation’s payout ratio is presently -640.00%.
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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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