Short Interest in MCG Capital Corp Expands By 44.8% (MCGC)
Shares of MCG Capital Corp (NASDAQ:MCGC) were the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,664,659 shares, an increase of 44.8% from the March 31st total of 1,840,020 shares, Analyst RN reports. Approximately 3.9% of the company’s shares are short sold. Based on an average daily volume of 804,832 shares, the days-to-cover ratio is presently 3.3 days.
MCGC has been the subject of a number of recent research reports. Analysts at Compass Point reiterated a “neutral” rating on shares of MCG Capital Corp in a research note on Tuesday, April 29th. They now have a $3.80 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of MCG Capital Corp from $4.00 to $3.75 in a research note on Tuesday, April 22nd. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of MCG Capital Corp from $5.00 to $4.00 in a research note on Thursday, March 6th.
MCG Capital Corp (NASDAQ:MCGC) opened at 3.30 on Monday. MCG Capital Corp has a 52 week low of $3.25 and a 52 week high of $5.55. The stock has a 50-day moving average of $3.62 and a 200-day moving average of $4.34. The company’s market cap is $214.5 million.
MCG Capital Corp (NASDAQ:MCGC) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01. The company had revenue of $9.35 million for the quarter, compared to the consensus estimate of $10.45 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 29.2% on a year-over-year basis. Analysts expect that MCG Capital Corp will post $0.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 8.48%. The ex-dividend date is Wednesday, May 7th.
MCG Capital Corporation is a solutions-focused commercial finance company that provides capital and advisory services to middle-market companies throughout the United States.
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