LPL Financial LLC lifted its holdings in shares of Medley Capital Corp (NYSE:MCC) by 135.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,310 shares of the investment management company’s stock after buying an additional 103,876 shares during the period. LPL Financial LLC’s holdings in Medley Capital were worth $689,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MCC. BlackRock Inc. grew its holdings in Medley Capital by 9.4% in the third quarter. BlackRock Inc. now owns 264,349 shares of the investment management company’s stock valued at $1,010,000 after purchasing an additional 22,621 shares during the period. JPMorgan Chase & Co. grew its holdings in Medley Capital by 118.9% in the third quarter. JPMorgan Chase & Co. now owns 59,902 shares of the investment management company’s stock valued at $229,000 after purchasing an additional 32,539 shares during the period. PFG Advisors acquired a new stake in Medley Capital in the third quarter valued at approximately $204,000. Finally, Raymond James & Associates acquired a new stake in Medley Capital in the second quarter valued at approximately $187,000. Institutional investors and hedge funds own 28.37% of the company’s stock.
Shares of NYSE:MCC opened at $2.85 on Friday. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $146.54 million, a PE ratio of 12.39 and a beta of 1.19. Medley Capital Corp has a 1 year low of $2.59 and a 1 year high of $5.40.
Medley Capital (NYSE:MCC) last issued its quarterly earnings results on Tuesday, December 4th. The investment management company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.04). The firm had revenue of $15.21 million during the quarter, compared to analyst estimates of $15.43 million. Medley Capital had a positive return on equity of 3.37% and a negative net margin of 166.00%. Research analysts anticipate that Medley Capital Corp will post 0.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 20th. Stockholders of record on Wednesday, December 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.04%. The ex-dividend date was Tuesday, December 4th. Medley Capital’s dividend payout ratio is presently 173.91%.
Separately, Zacks Investment Research raised Medley Capital from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.00.
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Medley Capital Profile
Medley Capital Corporation is a business development company. The fund seeks to invest in privately negotiated debt and equity securities of small and middle market companies. It primarily invests in the following sectors: business services; buildings and real estate; automobile; oil and gas; aerospace and defense; home and office furnishings, housewares, and durable consumer products; healthcare, education and childcare; personal, food, and miscellaneous services; retail stores, diversified or conglomerate manufacturing; telecommunications; mining, steel, iron, and non-precious metals; leisure, amusement, motion pictures, and entertainment; chemicals, plastics, and rubber; finance; personal and nondurable consumer products (manufacturing only); beverage, food, and tobacco; containers, packaging, and glass; structure finance securities; machinery (non-agriculture, non-construction, non-electric); diversified or conglomerate service; restaurant and franchise; electronics; and cargo transport.
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