Zacks: Brokerages Set $12.00 Target Price for MVC Capital, Inc. (NYSE:MVC)

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

Brokers have set a 1-year consensus price target of $12.00 for the company, according to Zacks. Zacks has also given MVC Capital an industry rank of 81 out of 256 based on the ratings given to its competitors.

Several brokerages recently weighed in on MVC. Zacks Investment Research raised HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. TheStreet downgraded Resolute Forest Products from a “b-” rating to a “c+” rating in a research note on Wednesday, June 12th. Finally, Maxim Group reiterated a “buy” rating and issued a $13.00 price target on shares of MVC Capital in a research note on Thursday, June 13th.

MVC traded down $0.09 on Friday, hitting $9.37. 6,369 shares of the company traded hands, compared to its average volume of 13,161. The stock’s 50 day moving average is $9.23. 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 firm has a market cap of $166.09 million, a PE ratio of 46.86 and a beta of 0.74. MVC Capital has a 12-month low of $7.96 and a 12-month high of $9.91.

MVC Capital (NYSE:MVC) last released its quarterly earnings results on Monday, June 10th. The investment management company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities analysts expect that MVC Capital will post 0.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, July 25th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Wednesday, July 24th. MVC Capital’s dividend payout ratio is currently 300.00%.

In other MVC Capital news, Chairman Michael T. Tokarz acquired 11,068 shares of MVC Capital stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $9.37 per share, with a total value of $103,707.16. Following the purchase, the chairman now owns 998,100 shares in the company, valued at $9,352,197. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.85% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of MVC Capital by 12.4% during the fourth quarter. Bank of America Corp DE now owns 36,375 shares of the investment management company’s stock worth $299,000 after purchasing an additional 4,023 shares in the last quarter. Ancora Advisors LLC raised its holdings in MVC Capital by 1.7% in the fourth quarter. Ancora Advisors LLC now owns 284,028 shares of the investment management company’s stock worth $2,332,000 after purchasing an additional 4,830 shares during the period. Almitas Capital LLC increased its position in shares of 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 in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in shares of MVC Capital by 1.4% during the first 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 in the last quarter. 49.30% of the stock is owned by institutional investors and hedge funds.

MVC Capital Company Profile

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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