Gendell Jeffrey L grew its holdings in shares of MVC Capital, Inc. (NYSE:MVC) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,661 shares of the investment management company’s stock after buying an additional 20,000 shares during the period. Gendell Jeffrey L’s holdings in MVC Capital were worth $5,086,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in MVC. Capital Investment Advisory Services LLC bought a new stake in shares of MVC Capital during the 3rd quarter valued at $219,000. Advisors Asset Management Inc. boosted its holdings in shares of MVC Capital by 12.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 95,817 shares of the investment management company’s stock valued at $959,000 after buying an additional 10,250 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of MVC Capital by 14.6% during the 3rd quarter. Legal & General Group Plc now owns 62,790 shares of the investment management company’s stock valued at $629,000 after buying an additional 7,982 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of MVC Capital by 86.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,544 shares of the investment management company’s stock valued at $297,000 after buying an additional 13,706 shares in the last quarter. Finally, City of London Investment Management Co. Ltd. boosted its holdings in shares of MVC Capital by 59.7% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 240,758 shares of the investment management company’s stock valued at $2,411,000 after buying an additional 89,985 shares in the last quarter. Hedge funds and other institutional investors own 47.66% of the company’s stock.
In other news, Chairman Michael T. Tokarz purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were bought at an average price of $10.55 per share, for a total transaction of $105,500.00. Following the purchase, the chairman now directly owns 941,043 shares in the company, valued at approximately $9,928,003.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.91% of the company’s stock.
MVC Capital (NYSE:MVC) last announced its quarterly earnings results on Tuesday, January 16th. The investment management company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $5.49 million for the quarter. MVC Capital had a net margin of 135.91% and a negative return on equity of 1.96%. sell-side analysts forecast that MVC Capital, Inc. will post 0.51 EPS for the current year.
MVC Capital declared that its Board of Directors has authorized a share buyback program on Monday, October 23rd that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the investment management company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
A number of brokerages recently issued reports on MVC. Maxim Group reiterated a “buy” rating and issued a $12.50 price target on shares of MVC Capital in a research note on Tuesday, October 24th. Ladenburg Thalmann Financial Services began coverage on shares of MVC Capital in a research note on Thursday, January 11th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, TheStreet cut shares of MVC Capital from a “b” rating to a “c+” rating in a research note on Friday, December 29th.
About MVC Capital
MVC Capital, Inc is a non-diversified closed-end management investment company. The Company’s investment objective is to seek to maximize total return from capital appreciation and/or income. The Company’s segments are its investing operations as a business development company, which includes MVC Cayman and MVC Turf, LLC and MVC Financial Services, Inc (MVCFS).
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