Medley Capital Corp (NYSE:MCC) issued its quarterly earnings data on Tuesday. The investment management company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.05. Medley Capital Corp had a net margin of 15.63% and a return on equity of 9.16%. The company had revenue of $24.36 million for the quarter, compared to the consensus estimate of $26.46 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Medley Capital Corp’s revenue for the quarter was down 20.7% compared to the same quarter last year.
Shares of Medley Capital Corp (NYSE:MCC) traded down 1.28% during trading on Friday, reaching $6.18. The company had a trading volume of 718,707 shares. Medley Capital Corp has a 52-week low of $6.05 and a 52-week high of $8.06. The company has a 50 day moving average of $7.31 and a 200-day moving average of $7.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Wednesday, May 24th will be paid a $0.16 dividend. The ex-dividend date is Monday, May 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 10.36%. Medley Capital Corp’s dividend payout ratio is currently 266.67%.
MCC has been the topic of a number of recent analyst reports. National Securities restated a “neutral” rating and set a $7.00 price objective on shares of Medley Capital Corp in a research note on Friday, February 17th. Keefe, Bruyette & Woods lowered Medley Capital Corp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $8.50 to $7.00 in a report on Tuesday, May 9th. Zacks Investment Research lowered Medley Capital Corp from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Finally, Jefferies Group LLC set a $8.00 target price on Medley Capital Corp and gave the stock a “hold” rating in a report on Saturday, February 11th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.38.
In other Medley Capital Corp news, Director Seth Taube bought 117,680 shares of Medley Capital Corp stock in a transaction dated Thursday, March 9th. The stock was bought at an average cost of $7.48 per share, with a total value of $880,246.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brook Taube bought 12,060 shares of Medley Capital Corp stock in a transaction dated Friday, March 17th. The stock was acquired at an average cost of $7.50 per share, with a total value of $90,450.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 906,935 shares of company stock valued at $5,931,341 over the last three months. Corporate insiders own 8.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Sigma Planning Corp purchased a new position in Medley Capital Corp during the first quarter valued at approximately $103,000. Acrospire Investment Management LLC increased its position in Medley Capital Corp by 52.6% in the third quarter. Acrospire Investment Management LLC now owns 13,930 shares of the investment management company’s stock valued at $106,000 after buying an additional 4,800 shares during the last quarter. Malaga Cove Capital LLC increased its position in Medley Capital Corp by 6.9% in the first quarter. Malaga Cove Capital LLC now owns 13,900 shares of the investment management company’s stock valued at $114,000 after buying an additional 900 shares during the last quarter. Global X Management Co. LLC increased its position in Medley Capital Corp by 50.7% in the first quarter. Global X Management Co. LLC now owns 16,517 shares of the investment management company’s stock valued at $127,000 after buying an additional 5,560 shares during the last quarter. Finally, Founders Financial Securities LLC purchased a new position in Medley Capital Corp during the first quarter valued at approximately $135,000. Institutional investors and hedge funds own 30.60% of the company’s stock.
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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