MVC Capital (NYSE:MVC) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of MVC Capital (NYSE:MVC) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “MVC CAPITAL INC is a business development company traded on the New York Stock Exchange, under the listing symbol MVC and is advised by The Tokarz Group Advisers LLC. MVC provides long-term equity and debt investment capital to fund growth, acquisitions and recapitalizations of small and middle-market companies in a variety of industries primarily located in the U.S. The investments can take the form of common and preferred stock (control and non-control investments) and warrants or rights to acquire equity interests; senior and subordinated loans; or convertible securities. MVC serves as the lead investor for transactions, as well as a co-investor in companies along with other private equity sponsors. “

Several other equities research analysts have also issued reports on the stock. TheStreet lowered shares of MVC Capital from a b rating to a c+ rating in a research note on Monday, September 23rd. Maxim Group set a $13.00 price target on shares of MVC Capital and gave the stock a buy rating in a research note on Saturday, September 14th.

NYSE MVC traded up $0.01 during trading hours on Wednesday, hitting $9.01. The company’s stock had a trading volume of 20,351 shares, compared to its average volume of 29,676. MVC Capital has a 52 week low of $7.96 and a 52 week high of $9.65. The company has a market capitalization of $159.53 million, a PE ratio of 16.07 and a beta of 0.71. The company has a current ratio of 13.06, a quick ratio of 13.06 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $8.91 and its two-hundred day simple moving average is $9.09.

MVC Capital (NYSE:MVC) last posted its earnings results on Monday, September 9th. The investment management company reported $0.16 EPS for the quarter. MVC Capital had a net margin of 38.77% and a return on equity of 4.51%. The firm had revenue of $7.47 million for the quarter. Research analysts anticipate that MVC Capital will post 0.63 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 25th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 7.55%. This is a positive change from MVC Capital’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 24th. MVC Capital’s payout ratio is currently 340.00%.

A number of institutional investors have recently added to or reduced their stakes in MVC. Wedbush Securities Inc. purchased a new position in MVC Capital in the 2nd quarter valued at approximately $109,000. Investment House LLC purchased a new position in MVC Capital in the 2nd quarter valued at approximately $207,000. United Capital Financial Advisers LLC purchased a new position in MVC Capital in the 2nd quarter valued at approximately $92,000. Virtus ETF Advisers LLC purchased a new position in MVC Capital in the 2nd quarter valued at approximately $1,950,000. Finally, Cooperman Leon G grew its stake in MVC Capital by 0.3% in the 2nd quarter. Cooperman Leon G now owns 1,664,077 shares of the investment management company’s stock valued at $15,326,000 after buying an additional 5,454 shares in the last quarter. Institutional investors and hedge funds own 50.98% of the company’s stock.

MVC Capital Company Profile

MVC Capital, Inc is a business development company specializing in equity, acquisition financing, mezzanine financing, management buyouts, leveraged buildups, corporate partnerships, PIPE transactions, going private transactions, private company recapitalizations, operational turnarounds, and growth and expansion capital transaction financing.

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