Malaga Cove Capital LLC boosted its position in shares of Medley Capital Corporation (NYSE:MCC) by 23.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,200 shares of the investment management company’s stock after buying an additional 3,300 shares during the period. Malaga Cove Capital LLC’s holdings in Medley Capital Corporation were worth $114,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the company. Muzinich & Co. Inc. raised its position in shares of 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 in the last quarter. UBS Group AG raised its position in shares of Medley Capital Corporation by 28.1% in the first quarter. UBS Group AG now owns 940,840 shares of the investment management company’s stock valued at $7,236,000 after buying an additional 206,314 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Medley Capital Corporation during the first quarter valued at approximately $1,451,000. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Medley Capital Corporation by 86.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 407,486 shares of the investment management company’s stock valued at $3,133,000 after buying an additional 188,439 shares in the last quarter. Finally, PVG Asset Management Corp purchased a new position in shares of Medley Capital Corporation during the first quarter valued at approximately $1,268,000. Institutional investors and hedge funds own 36.29% of the company’s stock.
Shares of Medley Capital Corporation (NYSE:MCC) opened at 6.57 on Thursday. Medley Capital Corporation has a one year low of $5.95 and a one year high of $8.06. The firm has a 50-day moving average price of $6.39 and a 200 day moving average price of $7.01.
Medley Capital Corporation (NYSE:MCC) last posted its quarterly earnings results on Wednesday, August 9th. The investment management company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Medley Capital Corporation had a return on equity of 8.10% and a net margin of 4.60%. During the same period in the previous year, the company earned $0.20 EPS. On average, equities research analysts anticipate that Medley Capital Corporation will post $0.71 earnings per share for the current fiscal year.
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Several equities analysts have recently commented on MCC shares. BidaskClub lowered Medley Capital Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Medley Capital Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. National Securities dropped their price objective on Medley Capital Corporation from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. Keefe, Bruyette & Woods set a $9.00 price objective on Medley Capital Corporation and gave the company a “buy” rating in a research report on Monday, April 17th. Finally, Jefferies Group LLC reaffirmed 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 given a hold rating to the stock. Medley Capital Corporation presently has a consensus rating of “Hold” and an average price target of $7.00.
In related news, Director Seth Taube purchased 12,109 shares of the company’s stock in a transaction on Monday, July 10th. The shares were bought at an average price of $6.40 per share, with a total value of $77,497.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brook Taube bought 124,927 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average cost of $6.13 per share, for a total transaction of $765,802.51. The disclosure for this purchase can be found here. Insiders acquired 6,247,047 shares of company stock worth $38,698,045 in the last ninety days. 8.70% of the stock is owned by corporate 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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