Zacks Investment Research downgraded shares of Medley Capital (NYSE:MCC) from a hold rating to a sell rating in a report issued on Wednesday morning.
According to Zacks, “Medley Capital Corporation is a closed-end, externally managed investment company. Medley Capital Corporation’s objective is to generate current income and capital appreciation by lending directly to privately-held small and middle market companies to help these companies fund acquisitions, growth or refinancing. Their portfolio will generally consist of first lien senior secured loans, and, to a lesser extent, second lien secured loans. In many of their investments, they will get warrants or other equity participation features which they believe will increase the total investment returns. “
MCC has been the topic of several other reports. ValuEngine raised Medley Capital from a hold rating to a buy rating in a research note on Friday, December 1st. Jefferies Group restated a hold rating and set a $6.50 price objective on shares of Medley Capital in a report on Wednesday, August 16th. Keefe, Bruyette & Woods restated a hold rating and set a $7.00 price objective on shares of Medley Capital in a report on Wednesday, August 16th. Finally, National Securities restated a neutral rating and set a $6.00 price objective on shares of Medley Capital in a report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Medley Capital currently has a consensus rating of Hold and a consensus price target of $6.17.
Shares of Medley Capital (MCC) traded up $0.06 on Wednesday, reaching $5.44. The company’s stock had a trading volume of 492,092 shares, compared to its average volume of 353,944. Medley Capital has a 12-month low of $5.32 and a 12-month high of $8.05. The company has a debt-to-equity ratio of 1.06, a quick ratio of 11.02 and a current ratio of 11.02. The firm has a market capitalization of $293.07, a price-to-earnings ratio of 7.91, a PEG ratio of 1.68 and a beta of 1.21.
Medley Capital (NYSE:MCC) last issued its quarterly earnings results on Thursday, December 7th. The investment management company reported $0.16 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. Medley Capital had a positive return on equity of 7.50% and a negative net margin of 15.66%. The firm had revenue of $22.10 million for the quarter, compared to analyst estimates of $23.51 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was down 18.7% compared to the same quarter last year. equities research analysts expect that Medley Capital will post 0.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.64 annualized dividend and a dividend yield of 11.76%. Medley Capital’s dividend payout ratio is -246.15%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Airain ltd increased its holdings in shares of Medley Capital by 2.7% during the second quarter. Airain ltd now owns 17,362 shares of the investment management company’s stock valued at $111,000 after acquiring an additional 462 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Medley Capital during the second quarter valued at approximately $112,000. Macquarie Group Ltd. bought a new stake in shares of Medley Capital during the third quarter valued at approximately $124,000. Citadel Advisors LLC bought a new stake in shares of Medley Capital during the second quarter valued at approximately $156,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Medley Capital during the second quarter worth $158,000. Hedge funds and other institutional investors own 29.34% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This story was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.dispatchtribunal.com/2017/12/16/zacks-investment-research-lowers-medley-capital-mcc-to-sell.html.
About Medley Capital
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.
Get a free copy of the Zacks research report on Medley Capital (MCC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Medley Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medley Capital and related companies with MarketBeat.com's FREE daily email newsletter.