In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on MVC Capital (MVC), with a price target of $11. The company’s shares closed yesterday at $9.23.
Diana observed:
“With cash proceeds from a successful exit (return of 3x) from a PE fund investment and $22M of pro forma cash proceeds from a F2Q19 agreement to sell one of its energy services positions (Crius Energy Trust), MVC appears to be well-positioned to continue transitioning its investment portfolio allocation to a higher percentage of yield investments and cover its quarterly dividend of $0.15 with net investment income (NII).”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 5.4% and a 56.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Westamerica Bancorporation.
MVC Capital has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.
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The company has a one-year high of $10.19 and a one-year low of $7.96. Currently, MVC Capital has an average volume of 27.32K.
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MVC Capital Inc, operates as a non-diversified closed-end management investment company. It engages in the provision of equity and debt investment capital to fund growth, acquisitions, and recapitalizations of small and middle-market companies. It operates through the MVC and MVCFS segments. The MVC segment consists of MVC Cayman and MVC Turf.
