According to Zacks, “Medley Capital Corporation is a closed-end, externally managed investment company. Medley Capital Corporation’s objective is to generate current income and capital appreciation by lending directly to privately-held small and middle market companies to help these companies fund acquisitions, growth or refinancing. Their portfolio will generally consist of first lien senior secured loans, and, to a lesser extent, second lien secured loans. In many of their investments, they will get warrants or other equity participation features which they believe will increase the total investment returns. “
Several other analysts also recently commented on the company. Jefferies Group restated a hold rating on shares of Medley Capital Corp. in a research note on Friday, August 12th. National Securities reiterated a neutral rating and set a $7.00 price target on shares of Medley Capital Corp. in a research note on Thursday, August 11th. Finally, FBR & Co reiterated a hold rating on shares of Medley Capital Corp. in a research note on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $7.67.
Medley Capital Corp. (NYSE:MCC) opened at 7.66 on Wednesday. The stock has a 50 day moving average price of $7.55 and a 200 day moving average price of $7.06. Medley Capital Corp. has a 52-week low of $5.26 and a 52-week high of $8.10.
Medley Capital Corp. (NYSE:MCC) last issued its earnings results on Tuesday, August 9th. The investment management company reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The company earned $28.41 million during the quarter, compared to the consensus estimate of $30.15 million. Medley Capital Corp. had a positive return on equity of 10.43% and a negative net margin of 31.75%. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. Equities research analysts predict that Medley Capital Corp. will post $0.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Wednesday, August 24th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.88 annualized dividend and a dividend yield of 11.49%. Medley Capital Corp.’s dividend payout ratio is currently -122.22%.
In related news, Director Seth Taube purchased 171,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were bought at an average price of $7.69 per share, with a total value of $1,314,990.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brook Taube purchased 100,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was bought at an average cost of $7.55 per share, for a total transaction of $755,000.00. The disclosure for this purchase can be found here. Company insiders own 0.74% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Group LTD boosted its stake in Medley Capital Corp. by 8.5% in the first quarter. BlackRock Group LTD now owns 274,984 shares of the investment management company’s stock worth $1,815,000 after buying an additional 21,625 shares during the period. Confluence Investment Management LLC boosted its stake in Medley Capital Corp. by 18.0% in the second quarter. Confluence Investment Management LLC now owns 657,221 shares of the investment management company’s stock worth $4,403,000 after buying an additional 100,300 shares during the period. PineBridge Investments L.P. boosted 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 worth $115,000 after buying an additional 4,711 shares during the period. Janney Montgomery Scott LLC boosted its stake in Medley Capital Corp. by 43.8% in the second quarter. Janney Montgomery Scott LLC now owns 400,342 shares of the investment management company’s stock worth $3,011,000 after buying an additional 121,971 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Medley Capital Corp. during the second quarter worth approximately $291,000. 28.31% of the stock is currently owned by institutional investors.
About Medley Capital Corp.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Medley Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medley Capital Corp. and related companies with MarketBeat.com's FREE daily email newsletter.