Zacks Investment Research upgraded shares of Medley Management (NYSE:MDLY) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $7.50 price target on the asset manager’s stock.
According to Zacks, “Medley Management Inc. is an asset management firm. It engages in providing institutional and retail investors with yield-oriented investment products that pay periodic dividends or distributions. The Company focuses on credit-related investment strategies, primarily originating senior secured loans to private middle market companies in the United States. Medley Management Inc. is based in New York. “
Separately, ValuEngine upgraded shares of Medley Management from a hold rating to a buy rating in a research note on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $8.67.
Medley Management (NYSE:MDLY) last posted its quarterly earnings results on Tuesday, November 14th. The asset manager reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The company had revenue of $16.65 million during the quarter, compared to the consensus estimate of $19.00 million. Medley Management had a negative return on equity of 35.40% and a net margin of 3.14%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. sell-side analysts anticipate that Medley Management will post 0.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Friday, November 24th were paid a $0.20 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 11.19%. Medley Management’s dividend payout ratio is 363.65%.
Institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC grew its stake in Medley Management by 6.0% in the 1st quarter. TIAA CREF Investment Management LLC now owns 26,190 shares of the asset manager’s stock valued at $217,000 after buying an additional 1,482 shares in the last quarter. Northern Trust Corp grew its stake in Medley Management by 0.6% in the 2nd quarter. Northern Trust Corp now owns 62,636 shares of the asset manager’s stock valued at $407,000 after buying an additional 400 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Medley Management by 5.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 82,107 shares of the asset manager’s stock valued at $534,000 after buying an additional 4,442 shares in the last quarter. State Street Corp grew its stake in Medley Management by 9.6% in the 2nd quarter. State Street Corp now owns 92,904 shares of the asset manager’s stock valued at $603,000 after buying an additional 8,158 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Medley Management by 10.6% in the 1st quarter. Renaissance Technologies LLC now owns 132,470 shares of the asset manager’s stock valued at $1,100,000 after buying an additional 12,722 shares in the last quarter. Institutional investors and hedge funds own 56.88% of the company’s stock.
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About Medley Management
Medley Management Inc is an asset management firm offering yield solutions to retail and institutional investors. The Company operates in the investment management segment. It is focused on credit-related investment strategies, primarily originating senior secured loans to private middle market companies in the United States.
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