Medley Capital Corp (NYSE:MCC) – Research analysts at Jefferies Financial Group lowered their FY2018 earnings per share estimates for shares of Medley Capital in a research note issued to investors on Friday, August 24th. Jefferies Financial Group analyst K. Joseph now anticipates that the investment management company will earn $0.26 per share for the year, down from their previous estimate of $0.38. Jefferies Financial Group also issued estimates for Medley Capital’s Q4 2018 earnings at $0.04 EPS, Q1 2019 earnings at $0.05 EPS, Q2 2019 earnings at $0.05 EPS, Q3 2019 earnings at $0.05 EPS and Q4 2019 earnings at $0.06 EPS.
Several other research analysts have also recently weighed in on MCC. Zacks Investment Research cut Medley Capital from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 12th. National Securities reduced their price objective on Medley Capital from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, May 14th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $4.67.
Medley Capital (NYSE:MCC) last posted its earnings results on Thursday, August 9th. The investment management company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Medley Capital had a negative net margin of 134.96% and a positive return on equity of 5.03%.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Wednesday, September 5th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 10.03%. Medley Capital’s dividend payout ratio is currently 59.70%.
Several hedge funds have recently bought and sold shares of MCC. Raymond James & Associates acquired a new position in shares of Medley Capital during the second quarter worth about $187,000. Cubist Systematic Strategies LLC boosted its position in shares of Medley Capital by 47.9% during the first quarter. Cubist Systematic Strategies LLC now owns 52,227 shares of the investment management company’s stock worth $208,000 after buying an additional 16,925 shares during the period. LPL Financial LLC boosted its position in shares of Medley Capital by 31.7% during the first quarter. LPL Financial LLC now owns 80,121 shares of the investment management company’s stock worth $319,000 after buying an additional 19,304 shares during the period. Highland Capital Management LP acquired a new position in shares of Medley Capital during the second quarter worth about $339,000. Finally, Royal Bank of Canada boosted its position in shares of Medley Capital by 49.2% during the first quarter. Royal Bank of Canada now owns 122,146 shares of the investment management company’s stock worth $486,000 after buying an additional 40,257 shares during the period. 25.45% of the stock is owned by institutional investors.
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.
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