Brook Taube (Insider Trades), CEO of Medley Capital Corp. (MCC, Financial), acquired 115,100 shares of the company on Oct. 6. The average price per share was $7.60 for a total transaction of $874,760. Medley Capital is a closed-end, externally managed business development company whose investment objective is to generate current income and capital appreciation by lending to privately held middle market companies through directly originated transactions and to help these companies expand their businesses, refinance and make acquisitions. The company’s portfolio consists of senior secured first lien loans and senior secured second lien loans. Medley Capital has a market cap of $417.84 million.
The number and volume of insider buys of Medley Capital increased overall from 2013 to 2015. Taube conducted the sole Medley Capital insider trade in 2013, purchasing 5,000 shares of the company at an average per share price of $13.06. In comparison, there were 14 insider buys totaling 76,312 shares in 2014, and 6 insider buys totaling 63,000 shares of the company in 2015. Since 2013, Taube purchased 1,367,959 shares of the company in 11 transactions. Taube acquired 1,309,647 shares of Medley in 7 transactions in 2016 to date. Director Seth Taube (Insider Trades) also purchased 115,100 shares of the company on Oct. 6. For more information about insider trades with Medley Capital, click here.
The company reported net increase in assets resulting from operations of $14.02 million for the second quarter ended June 30. In the previous year’s second quarter, the company reported net increase in net assets of $8.373 million resulting from operations. The net investment income per common share was 30 cents and 20 cents for the second quarter of 2015 and 2016 respectively. The company announced a quarterly dividend of 22 cents per common share for the second quarter of 2016. Medley Capital has given dividends ranging from 16 cents per share to 37 cents per share each quarter since the second quarter of 2011.
Annual Medley Capital revenue follows an increasing trend line from 2012 through 2016, while annual net income shows the opposite trend for the same period of time. For more financial information, click here.
Manning & Napier Advisors Inc. reduced its stake in Medley during the second quarter of 2016. Manning & Napier sold 9,105 shares of the company for an average per share price of $6.62, decreasing its stake in the company by 11.25%. Manning & Napier acquired the holding in the second quarter of 2015, purchasing 79,710 shares of the company at an average per share price of $9.19. The total estimated gain of the company since the initial acquisition is -18%. For more information about guru trades with Medley Capital, click here.
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