Zacks Investment Research upgraded shares of Medley Capital (NYSE:MCC) from a sell rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

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. “

Medley Capital stock opened at $2.33 on Thursday. The firm has a market capitalization of $126.92 million, a PE ratio of 10.13 and a beta of 1.31. Medley Capital has a twelve month low of $2.19 and a twelve month high of $4.03. The company has a debt-to-equity ratio of 1.43, a current ratio of 4.31 and a quick ratio of 4.31. The firm has a 50 day moving average of $2.42.

Medley Capital (NYSE:MCC) last released its quarterly earnings results on Friday, May 10th. The investment management company reported $0.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $12.59 million during the quarter, compared to analysts’ expectations of $13.65 million. Medley Capital had a negative net margin of 151.74% and a positive return on equity of 1.57%. On average, equities research analysts forecast that Medley Capital will post 0.04 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MCC. Stephens Inc. AR raised its position in shares of Medley Capital by 17.5% in the first quarter. Stephens Inc. AR now owns 26,900 shares of the investment management company’s stock valued at $84,000 after purchasing an additional 4,000 shares during the period. Bank of America Corp DE raised its position in shares of Medley Capital by 345.7% in the fourth quarter. Bank of America Corp DE now owns 69,542 shares of the investment management company’s stock valued at $185,000 after purchasing an additional 53,940 shares during the period. HRT Financial LLC bought a new position in shares of Medley Capital in the fourth quarter valued at about $237,000. PFG Advisors raised its position in shares of Medley Capital by 260.4% in the fourth quarter. PFG Advisors now owns 194,595 shares of the investment management company’s stock valued at $615,000 after purchasing an additional 140,595 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Medley Capital by 11.8% in the fourth quarter. Legal & General Group Plc now owns 243,586 shares of the investment management company’s stock valued at $650,000 after purchasing an additional 25,618 shares during the period. Hedge funds and other institutional investors own 25.04% of the company’s stock.

About Medley Capital

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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