Latest Stocks: Brokers Issue Forecasts for Medley Capital Corp’s FY2018 Earnings (MCC)

Latest Stocks: Brokers Issue Forecasts for Medley Capital Corp’s FY2018 Earnings (MCC)

Medley Capital Corp (NYSE:MCC) – FBR & Co reduced their FY2018 earnings per share estimates for Medley Capital Corp in a note issued to investors on Thursday. FBR & Co analyst C. Nolan now expects that the investment management company will earn $0.80 per share for the year, down from their previous estimate of $0.85.

MCC has been the subject of a number of other reports. Jefferies Group LLC set a $8.00 price target on Medley Capital Corp and gave the company a “hold” rating in a research note on Saturday, February 11th. Zacks Investment Research upgraded Medley Capital Corp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 15th. Keefe, Bruyette & Woods cut Medley Capital Corp from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $8.50 to $7.00 in a research note on Tuesday, May 9th. Finally, National Securities dropped their price target on Medley Capital Corp from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $7.38. Medley Capital Corp (NYSE:MCC) remained flat at $6.15 during midday trading on Monday. 424,886 shares of the company’s stock traded hands. Medley Capital Corp has a 52-week low of $6.05 and a 52-week high of $8.06. The stock’s 50-day moving average price is $7.44 and its 200-day moving average price is $7.58.

A number of hedge funds have recently bought and sold shares of MCC. Arete Wealth Advisors LLC increased its stake in shares of Medley Capital Corp by 0.5% in the third quarter. Arete Wealth Advisors LLC now owns 36,420 shares of the investment management company’s stock worth $278,000 after buying an additional 170 shares during the last quarter. Malaga Cove Capital LLC increased its stake in shares of 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 worth $114,000 after buying an additional 900 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of 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 worth $106,000 after buying an additional 4,800 shares during the last quarter. Nuveen Fund Advisors LLC increased its stake in shares of Medley Capital Corp by 1.8% in the third quarter. Nuveen Fund Advisors LLC now owns 280,210 shares of the investment management company’s stock worth $2,138,000 after buying an additional 4,960 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Medley Capital Corp by 38.5% in the first quarter. Private Advisor Group LLC now owns 19,480 shares of the investment management company’s stock worth $147,000 after buying an additional 5,420 shares during the last quarter. Institutional investors and hedge funds own 30.60% of the company’s stock. In related news, CEO Brook Taube acquired 12,060 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was acquired at an average cost of $7.50 per share, for a total transaction of $90,450.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Seth Taube acquired 230,137 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $6.16 per share, with a total value of $1,417,643.92. The disclosure for this purchase can be found here. Insiders purchased 602,807 shares of company stock valued at $4,045,748 over the last 90 days. 8.70% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Wednesday, May 24th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 10.41%. Medley Capital Corp’s payout ratio is 266.67%. Medley Capital Corp 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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