MDLY - Medley Management stock jumps after lower expenses reduces Q4 loss

Medley Management (MDLY) stock surges 22% after it Q4 core pretax loss narrowed from a year ago on lower expenses from operations due to a decline in headcount, stock compensation, and discretionary bonuses.Q4 pretax net loss was $1.05M vs. $1.9M in the year-ago quarter. On a per-share basis, core net loss improved to 24 cents from a loss of 37 cents in Q4 2019.Core net income margin improved to -10.0% from -12.1%.Q4 core EBITDA of $1.2M rose slightly from $1.1M a year ago.Q4 revenue of $8.5M fell from $10.7M a year ago, due primarily to lower base management fees as a result of a decrease in fee earning assets under management.Q4 total expenses from operations fell to $9.2M from $11.3M a year earlier, as compensation and benefits expense decreased by $2.5M.Assets under management of $2.86B at Dec. 31, 2020 declined from $4.12B at Dec. 31, 2019; fee earning AUM of $1.33B dropped from

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Medley Management stock jumps after lower expenses reduces Q4 loss