Legal & General Group Plc boosted its stake in Medley Capital Corporation (NYSE:MCC) by 5.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 127,876 shares of the investment management company’s stock after buying an additional 6,295 shares during the period. Legal & General Group Plc owned approximately 0.23% of Medley Capital Corporation worth $983,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of MCC. Muzinich & Co. Inc. boosted its stake in Medley Capital Corporation by 135.1% in the first quarter. Muzinich & Co. Inc. now owns 1,919,003 shares of the investment management company’s stock valued at $14,757,000 after buying an additional 1,102,871 shares during the period. Wells Fargo & Company MN boosted its stake in Medley Capital Corporation by 15.3% in the first quarter. Wells Fargo & Company MN now owns 769,123 shares of the investment management company’s stock valued at $5,914,000 after buying an additional 101,906 shares during the period. Bank of Montreal Can boosted its stake in Medley Capital Corporation by 2.8% in the first quarter. Bank of Montreal Can now owns 555,000 shares of the investment management company’s stock valued at $4,268,000 after buying an additional 15,000 shares during the period. Janney Montgomery Scott LLC boosted its stake in Medley Capital Corporation by 28.5% in the first quarter. Janney Montgomery Scott LLC now owns 428,405 shares of the investment management company’s stock valued at $3,294,000 after buying an additional 94,917 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Medley Capital Corporation by 28.3% in the first quarter. Van ECK Associates Corp now owns 416,565 shares of the investment management company’s stock valued at $3,203,000 after buying an additional 91,981 shares during the period. Institutional investors own 36.10% of the company’s stock.
Shares of Medley Capital Corporation (MCC) opened at 6.38 on Friday. The firm has a 50-day moving average of $6.37 and a 200-day moving average of $7.08. Medley Capital Corporation has a 12-month low of $5.95 and a 12-month high of $8.06.
Medley Capital Corporation (NYSE:MCC) last posted its quarterly earnings results on Tuesday, May 9th. The investment management company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.05. Medley Capital Corporation had a net margin of 4.60% and a return on equity of 8.10%. The firm 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 company earned $0.26 earnings per share. The company’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, equities research analysts forecast that Medley Capital Corporation will post $0.71 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on MCC shares. BidaskClub cut shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research cut shares of Medley Capital Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. National Securities decreased their price objective on shares of Medley Capital Corporation from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. Keefe, Bruyette & Woods set a $9.00 price objective on shares of Medley Capital Corporation and gave the stock a “buy” rating in a research report on Monday, April 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $6.50 price objective on shares of Medley Capital Corporation in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Medley Capital Corporation has a consensus rating of “Hold” and a consensus target price of $7.00.
In other news, Director Seth Taube purchased 230,137 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average cost of $6.16 per share, for a total transaction of $1,417,643.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brook Taube acquired 50,049 shares of Medley Capital Corporation stock in a transaction on Wednesday, July 5th. The shares were bought at an average cost of $6.40 per share, for a total transaction of $320,313.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,396,654 shares of company stock valued at $39,655,529 over the last quarter. 8.70% of the stock is currently owned by company insiders.
About Medley Capital Corporation
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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