Eye Catching Stock News: Medley Management Inc. (NYSE:MDLY)

On Thursday Medley Management Inc. (NYSE:MDLY) stock raised 3.97% and closed at 2.88. The stock opened the session at $2.8 and touched its highest price point at $2.93. Its recent trading capacity is 26599 shares versus to its average trading volume of 24344 shares. The company’s stock’s lowest price point for the session stood at $2.8. MDLY traded as low as $ in the past 52 weeks, and shares hit its peak level to $5.74.

On Nov. 14, 2019, Medley Management Inc. (NYSE:MDLY) disclosed its financial results for its third quarter ended September 30, 2019.

Highlights

  • Fee earning assets under management were $2.3 billion as of September 30, 2019
  • Total assets under management were $4.3 billion as of September 30, 2019
  • Total revenues were $11.5 million for the three months ended September 30, 2019 and $38.2 million for the nine months ended September 30, 2019
  • S. GAAP net loss per share attributable to Medley Management Inc. was $0.09 for Q3 2019
  • Core Net Loss Per Share was $0.02 for Q3 2019
  • The board of directors did not declare a dividend for this quarter

Results of Operations for the Three Months Ended September 30, 2019

Total revenues were $11.5 million for the three months ended September 30, 2019 compared to $14.4 million for the same period in 2018. The decrease was due primarily to lower base management fees from our permanent capital vehicles as a result of a decrease in fee earning assets under management, which was mainly driven by a reduction in leverage and decline in portfolio valuations.

Total expenses from operations were $12.5 million for each of the three months ended September 30, 2019 and 2018. Compensation and benefits increased by $0.8 million to $7.1 million for the three months ended September 30, 2019 as compared to the same period in 2018.  This increase was offset by a decrease in professional fees and employee recruiting related expenses. Included in total expenses are costs associated with our pending merger of $2.1 million for each of the three months ended September 30, 2019 and 2018.

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