Bank of Montreal Can cut its stake in shares of Medley Capital Corporation (NYSE:MCC) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,154 shares of the investment management company’s stock after selling 44,846 shares during the period. Bank of Montreal Can owned approximately 0.94% of Medley Capital Corporation worth $3,260,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in Medley Capital Corporation by 26.8% in the first quarter. Nationwide Fund Advisors now owns 108,194 shares of the investment management company’s stock valued at $832,000 after buying an additional 22,894 shares in the last quarter. Sigma Planning Corp purchased a new position in Medley Capital Corporation during the first quarter valued at approximately $103,000. IFC Holdings Incorporated FL purchased a new position in Medley Capital Corporation during the first quarter valued at approximately $153,000. Founders Financial Securities LLC purchased a new position in Medley Capital Corporation during the first quarter valued at approximately $135,000. Finally, Janney Montgomery Scott LLC increased its position 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 in the last quarter. 36.48% of the stock is owned by hedge funds and other institutional investors.
Medley Capital Corporation (NYSE MCC) traded down 0.48% during trading on Friday, hitting $6.25. The stock had a trading volume of 247,184 shares. Medley Capital Corporation has a one year low of $5.95 and a one year high of $8.06. The stock’s 50-day moving average is $6.41 and its 200 day moving average is $6.97.
Medley Capital Corporation (NYSE:MCC) last released its quarterly earnings results on Wednesday, August 9th. The investment management company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $24.67 million. Medley Capital Corporation had a positive return on equity of 8.04% and a negative net margin of 6.07%. During the same period in the previous year, the firm posted $0.20 earnings per share. Equities research analysts forecast that Medley Capital Corporation will post $0.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Wednesday, August 23rd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.64 annualized dividend and a yield of 10.19%. Medley Capital Corporation’s payout ratio is currently -640.00%.
MCC has been the subject of several recent research reports. Keefe, Bruyette & Woods downgraded Medley Capital Corporation from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $8.50 to $7.00 in a research note on Tuesday, May 9th. National Securities reduced their price objective on Medley Capital Corporation from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and issued a $6.50 price objective on shares of Medley Capital Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded Medley Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, BidaskClub cut Medley Capital Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Medley Capital Corporation presently has a consensus rating of “Hold” and an average target price of $7.00.
In other news, CEO Brook Taube purchased 436,127 shares of the stock in a transaction on Tuesday, May 30th. The stock was purchased at an average price of $6.08 per share, with a total value of $2,651,652.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Seth Taube purchased 51,152 shares of the stock in a transaction on Monday, July 3rd. The shares were purchased at an average cost of $6.40 per share, with a total value of $327,372.80. The disclosure for this purchase can be found here. Insiders purchased 5,712,782 shares of company stock valued at $35,394,807 over the last quarter. Insiders own 8.70% of the company’s stock.
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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