Brook Taube (Insider Trades), CEO of Medley Capital Corp. (MCC), acquired 142,110 shares in the company on Nov. 1. The average price per share was $7.56 for a total transaction of $1,074,352.
Medley Capital is an investment company with a portfolio containing senior secured first lien loans and senior secured second lien loans. The company has a market cap of $406.34 million.
Since 2013, the number and volume of Medley Capital insider trades does not follow a linear trend from year to year; however there was an overall increase in insider shares acquired when comparing 2015 to 2013. There was only one insider purchase of Medley Capital totaling 5,000 shares in 2013; there were six insider purchases totaling 63,000 shares in 2015.
To date, there have been 20 insider purchases of Medley Capital totaling 2,936,102 shares. Of the number of insider shares purchased to date, Brook Taube accounted for half. Medley Capital Director Seth Taube (Insider Trades) conducted the remaining 50% of insider transactions to date. For more information about insider transactions with Medley Capital, click here.
The company reported total investment income of $28.412 million for the three months ended June 30. For the corresponding period of the previous year, the company reported total investment income of $35.964 million. Net investment income for the second quarter was $10.954 million, down from $17.240 million reported by the company in the second quarter of 2015. Despite the decrease in total and net income from the second quarter of 2015 to the second quarter of 2016, net assets from operations increased from $8.373 million, or 30 cents per share, to $14.022 million, or 20 cents per share. The company also declared 30 cents in dividends per common share for both quarters; however, the company also announced a dividend of 22 cents for the third quarter.
The company’s annual revenue follows an increasing trend line from 2012 through 2016, but annual net income follows the opposite trend. For more financial information on Medley Capital, click here.
Manning & Napier Advisors Inc. purchased 79,710 shares of Medley Capital at an average per share price of $9.19 in the second quarter of 2015. Over the year following the initial purchase, Manning & Napier increased its holding by 1.56%, purchasing 1,240 shares at an average per share price of $8.51 and reducing its stake in the company twice, once in the second quarter and again in the following quarter. Since the initial purchase in 2015, the total estimated loss of the holding is 20%. For more information about guru trades with Medley Capital, click here.
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