HL Financial Services LLC lowered its position in Medley Capital Corp. (NYSE:MCC) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 28,177 shares of the investment management company’s stock after selling 240 shares during the period. HL Financial Services LLC’s holdings in Medley Capital Corp. were worth $189,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Cue Financial Group Inc. increased its stake in shares of Medley Capital Corp. by 0.6% in the second quarter. Cue Financial Group Inc. now owns 224,200 shares of the investment management company’s stock worth $1,502,000 after buying an additional 1,300 shares during the last quarter. BlackRock Group LTD increased its stake in shares of 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 last quarter. Bancorpsouth Inc. acquired a new stake in shares of Medley Capital Corp. during the first quarter worth $231,000. American Financial Group Inc. increased its stake in shares of Medley Capital Corp. by 29.3% in the first quarter. American Financial Group Inc. now owns 2,199,858 shares of the investment management company’s stock worth $14,519,000 after buying an additional 498,400 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Medley Capital Corp. during the second quarter worth $3,619,000. Hedge funds and other institutional investors own 28.30% of the company’s stock.
Shares of Medley Capital Corp. (NYSE:MCC) traded up 0.52% during trading on Monday, reaching $7.67. 250,907 shares of the company traded hands. The firm’s 50 day moving average is $7.53 and its 200-day moving average is $7.00. Medley Capital Corp. has a 12-month low of $5.26 and a 12-month high of $8.19.
Medley Capital Corp. (NYSE:MCC) last announced its quarterly earnings data on Tuesday, August 9th. The investment management company reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. The business had revenue of $28.41 million for the quarter, compared to analysts’ expectations 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 business’s revenue was down 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities analysts anticipate that Medley Capital Corp. will post $0.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Wednesday, August 24th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 11.47%. The ex-dividend date of this dividend was Monday, August 22nd. Medley Capital Corp.’s dividend payout ratio (DPR) is presently -122.22%.
Several analysts have recently commented on the company. Zacks Investment Research downgraded Medley Capital Corp. from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th. National Securities restated a “neutral” rating and issued a $7.00 target price on shares of Medley Capital Corp. in a research note on Thursday, August 11th. FBR & Co restated a “hold” rating on shares of Medley Capital Corp. in a research note on Wednesday, August 10th. Finally, Jefferies Group restated a “hold” rating on shares of Medley Capital Corp. in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $7.67.
In other Medley Capital Corp. news, Director Seth Taube acquired 171,000 shares of the business’s stock in a transaction on Friday, August 19th. The shares were acquired at an average price of $7.69 per share, for a total transaction of $1,314,990.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brook Taube acquired 20,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was acquired at an average price of $7.49 per share, for a total transaction of $149,800.00. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.
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.
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