Could Medley Capital Corp (MCC) Go Down? The Stock Formed Bearish Wedge Down Chart Pattern

November 21, 2017 - By Hazel Jackson

Investors sentiment increased to 1.38 in 2017 Q2. Its up 0.21, from 1.17 in 2017Q1. It increased, as 13 investors sold Medley Capital Corp shares while 21 reduced holdings. 17 funds opened positions while 30 raised stakes. 14.68 million shares or 16.81% less from 17.65 million shares in 2017Q1 were reported.
Van Eck Corp invested 0.02% of its portfolio in Medley Capital Corp (NYSE:MCC). Moreover, Fincl Architects has 0.01% invested in Medley Capital Corp (NYSE:MCC) for 5,500 shares. 134,270 were reported by Arete Wealth Ltd. Lmm has 0.07% invested in Medley Capital Corp (NYSE:MCC). Moreover, Sigma Planning Corp has 0.02% invested in Medley Capital Corp (NYSE:MCC) for 28,623 shares. Jpmorgan Chase & Com has invested 0% in Medley Capital Corp (NYSE:MCC). Wasatch Advsrs holds 0% or 41,012 shares. Ifc Inc Fl owns 35,054 shares for 0.02% of their portfolio. 140,038 are held by Legal And General Grp Public Limited Co. Susquehanna International Group Limited Liability Partnership invested in 14,575 shares or 0% of the stock. Guggenheim Lc has 575,710 shares. Bb&T Limited Com holds 0% or 17,528 shares in its portfolio. Gsa Cap Ptnrs Llp holds 0.01% or 15,143 shares. Mackenzie Financial holds 0% or 78,470 shares in its portfolio. Eaton Vance Mngmt has 74,500 shares.

The stock of Medley Capital Corp (MCC) formed a down wedge with $5.30 target or 6.00 % below today’s $5.64 share price. The 9 months wedge indicates high risk for the $306.96M company. If the $5.30 price target is reached, the company will be worth $18.42M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 76,681 shares traded. Medley Capital Corp (NYSE:MCC) has declined 6.36% since November 21, 2016 and is downtrending. It has underperformed by 23.06% the S&P500.

Investors wait Medley Capital Corp (NYSE:MCC) to report on December, 7 before the open. its quarterly earnings Wall Street analysts expect $0.15 EPS, down $0.08 or 34.78 % from last year’s $0.23 same quarter earnings. This translates into $8.17 million profit for MCC giving the stock a 9.37 P/E. This is assuming the current $0.15 EPS is accurate. Medley Capital Corp’s Wall Street analysts see -16.67 % negative EPS growth, taking into account the $0.18 EPS reproted in the previous quarter,

Medley Capital Corp (NYSE:MCC) Ratings Coverage

Among 7 analysts covering Medley Capital Corp (NYSE:MCC), 2 have Buy rating, 0 Sell and 5 Hold. Therefore 29% are positive. Medley Capital Corp had 16 analyst reports since August 12, 2015 according to SRatingsIntel. As per Monday, October 16, the company rating was maintained by Keefe Bruyette & Woods. National Securities maintained it with “Buy” rating and $11 target in Wednesday, August 12 report. On Monday, December 12 the stock rating was downgraded by Janney Capital to “Neutral”. The firm has “Hold” rating by Jefferies given on Friday, September 22. Janney Capital reinitiated the stock with “Buy” rating in Wednesday, April 27 report. The rating was maintained by UBS on Wednesday, October 14 with “Neutral”. The firm earned “Hold” rating on Friday, August 14 by Wood. The stock of Medley Capital Corp (NYSE:MCC) earned “Hold” rating by Jefferies on Friday, November 3. Jefferies maintained Medley Capital Corp (NYSE:MCC) rating on Tuesday, August 15. Jefferies has “Hold” rating and $6.5 target. The stock of Medley Capital Corp (NYSE:MCC) earned “Hold” rating by Zacks on Thursday, August 13.

More notable recent Medley Capital Corp (NYSE:MCC) news were published by: Fool.com which released: “Why Medley Capital Corporation Stock Plunged on Tuesday” on May 09, 2017, also Fool.com with their article: “Medley Capital: Don’t Fall for Insider Buying” published on August 02, 2017, Nasdaq.com published: “Medley Capital Corporation Amends Credit Facility and Partially Prepays Term Loan” on September 08, 2017. More interesting news about Medley Capital Corp (NYSE:MCC) were released by: Nasdaq.com and their article: “Medley Capital Corporation (MCC) Ex-Dividend Date Scheduled for November 21, 2017” published on November 20, 2017 as well as Businesswire.com‘s news article titled: “Sierra Total Return Fund Announces Q4 2017 Distribution” with publication date: November 20, 2017.

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