The stock of MVC Capital, Inc. (MVC) formed an up wedge with $8.93 target or 4.00% above today’s $8.59 share price. The 9 months wedge indicates low risk for the $189.94 million company. If the $8.93 price target is reached, the company will be worth $7.60 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%. About 2,946 shares traded hands. MVC Capital, Inc. (NYSE:MVC) has risen 2.15% since June 7, 2016 and is uptrending. It has underperformed by 5.27% the S&P500.
Analysts await MVC Capital, Inc. (NYSE:MVC) to report earnings on May, 15.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 1.27 in Q3 2016. Its up 0.57, from 0.7 in 2016Q2. The ratio improved, as 3 funds sold all MVC Capital, Inc. shares owned while 8 reduced positions. 8 funds bought stakes while 6 increased positions. They now own 9.53 million shares or 0.51% more from 9.48 million shares in 2016Q2.
Cs Mckee L P has 0.02% invested in the company for 35,150 shares. Bulldog Investors Ltd Liability reported 1.38M shares or 2.58% of all its holdings. Moreover, Jpmorgan Chase And has 0% invested in MVC Capital, Inc. (NYSE:MVC) for 24,193 shares. Tower Rech Capital Llc (Trc) holds 0% or 1,317 shares in its portfolio. Omega Advsrs Inc, a New York-based fund reported 129,211 shares. Deutsche Bancorp Ag, a Germany-based fund reported 780 shares. Bb&T Secs Ltd Liability Corp reported 15,951 shares or 0% of all its holdings. Jacobus Wealth holds 0.07% or 30,000 shares in its portfolio. Saba Capital Limited Partnership holds 0.01% of its portfolio in MVC Capital, Inc. (NYSE:MVC) for 18,000 shares. Creative Planning last reported 0% of its portfolio in the stock. Punch & Inv last reported 0.2% of its portfolio in the stock. Goldman Sachs Grp Incorporated holds 0% or 24,949 shares in its portfolio. Gabelli Funds Ltd Liability, a New York-based fund reported 121,000 shares. Morgan Stanley holds 0% of its portfolio in MVC Capital, Inc. (NYSE:MVC) for 443,815 shares. Barclays Public Ltd Company has 0% invested in the company for 72 shares.
MVC Company Profile
MVC Capital, Inc. (MVC Capital), incorporated on December 2, 1999, is a non-diversified closed-end management investment company. MVC Financial Services, Inc. (MVCFS), a subsidiary of the Company, provides services to the Company and its portfolio companies. The Company’s divisions include MVC and MVCFS. The Company’s divisions are its investing activities as a business development company, MVC Capital, which includes MVC Cayman and MVC Turf, LLC (MVC Turf), and MVCFS provides advisory, administrative and other services. The Company’s investment objective is to seek to maximize total return from capital appreciation and/or income, though its focus is on yield generating investments. The Firm seeks to achieve its investment objective by providing debt and equity financing to companies that are for the part, privately owned (Portfolio Companies). The Company’s investments in Portfolio Companies consist principally of senior and subordinated loans, venture capital, mezzanine and preferred instruments and private equity investments. The Firm may also seek to achieve its investment objective by establishing a subsidiary or subsidiaries that would serve as general partner to a private equity or other investment fund(s).
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