Zacks: MVC Capital, Inc. (NYSE:MVC) Given $12.00 Consensus Target Price by Brokerages

MVC Capital, Inc. (NYSE:MVC) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price objective of $12.00 for the company, according to Zacks. Zacks has also assigned MVC Capital an industry rank of 96 out of 256 based on the ratings given to related companies.

Several brokerages have recently weighed in on MVC. Zacks Investment Research upgraded MVC Capital from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Tuesday, June 18th. Maxim Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of MVC Capital in a research report on Thursday, June 13th. Finally, TheStreet raised MVC Capital from a “c” rating to a “b” rating in a research report on Wednesday, June 12th.

Shares of NYSE MVC opened at $9.57 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 8.77 and a quick ratio of 8.77. The company has a market cap of $169.98 million, a PE ratio of 47.85 and a beta of 0.74. The firm’s fifty day moving average is $9.39. MVC Capital has a 12-month low of $7.96 and a 12-month high of $9.89.

MVC Capital (NYSE:MVC) last announced its earnings results on Monday, June 10th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.15. The business had revenue of $8.59 million for the quarter. MVC Capital had a return on equity of 4.54% and a net margin of 17.72%. As a group, analysts forecast that MVC Capital will post 0.62 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Thursday, July 25th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.27%. MVC Capital’s payout ratio is currently 300.00%.

In other MVC Capital news, major shareholder Mvc Capital, Inc. sold 1,216,620 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $1.70, for a total value of $2,068,254.00. Following the completion of the transaction, the insider now owns 3,836,334 shares in the company, valued at $6,521,767.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael T. Tokarz acquired 11,068 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was bought at an average price of $9.37 per share, with a total value of $103,707.16. Following the purchase, the chairman now directly owns 998,100 shares of the company’s stock, valued at $9,352,197. The disclosure for this purchase can be found here. Insiders own 8.85% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Almitas Capital LLC boosted its position in MVC Capital by 12.8% during the first quarter. Almitas Capital LLC now owns 566,180 shares of the investment management company’s stock worth $5,135,000 after acquiring an additional 64,145 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of MVC Capital in the 2nd quarter worth approximately $109,000. Punch & Associates Investment Management Inc. lifted its stake in shares of MVC Capital by 1.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 793,405 shares of the investment management company’s stock worth $7,196,000 after acquiring an additional 10,754 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of MVC Capital by 12.4% in the 4th quarter. Bank of America Corp DE now owns 36,375 shares of the investment management company’s stock worth $299,000 after acquiring an additional 4,023 shares during the period. Institutional investors own 49.30% of the company’s stock.

About MVC Capital

MVC Capital, Inc is a business development company specializing in equity, acquisition financing, mezzanine financing, management buyouts, leveraged buildups, corporate partnerships, PIPE transactions, going private transactions, private company recapitalizations, operational turnarounds, and growth and expansion capital transaction financing.

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