Zacks Investment Research upgraded shares of MVC Capital (NYSE:MVC) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. The firm currently has $10.00 target price on the investment management company’s stock.
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. “
MVC has been the topic of several other reports. Maxim Group restated a buy rating and set a $13.00 price target on shares of MVC Capital in a research report on Thursday, June 13th. TheStreet upgraded MVC Capital from a c rating to a b rating in a research report on Wednesday, June 12th.
MVC opened at $8.99 on Thursday. The stock’s 50 day simple moving average is $9.14 and its 200 day simple moving average is $9.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 13.06 and a quick ratio of 8.77. MVC Capital has a 1 year low of $7.96 and a 1 year high of $9.89. The firm has a market cap of $157.22 million, a price-to-earnings ratio of 44.95 and a beta of 0.77.
In related news, Chairman Michael T. Tokarz purchased 11,068 shares of MVC Capital stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average cost of $9.37 per share, for a total transaction of $103,707.16. Following the transaction, the chairman now directly owns 998,100 shares in the company, valued at $9,352,197. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Mvc Capital, Inc. sold 608,310 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $1.62, for a total value of $985,462.20. Following the transaction, the insider now owns 3,228,024 shares in the company, valued at $5,229,398.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,433,240 shares of company stock worth $4,087,843. 8.85% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MVC. Virtus ETF Advisers LLC bought a new position in MVC Capital during the 2nd quarter worth approximately $1,950,000. Almitas Capital LLC grew its position in shares of MVC Capital by 12.8% in the 1st quarter. Almitas Capital LLC now owns 566,180 shares of the investment management company’s stock worth $5,135,000 after buying an additional 64,145 shares during the last quarter. Investment House LLC bought a new stake in shares of MVC Capital in the 2nd quarter worth approximately $207,000. Wedbush Securities Inc. bought a new stake in shares of MVC Capital in the 2nd quarter worth approximately $109,000. Finally, Punch & Associates Investment Management Inc. grew its position in shares of MVC Capital by 1.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 793,405 shares of the investment management company’s stock worth $7,196,000 after buying an additional 10,754 shares during the last quarter. Institutional investors and hedge funds own 50.84% of the company’s stock.
About MVC Capital
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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