MCG Capital Corp Sees Large Decline in Short Interest (MCGC)
Shares of MCG Capital Corp (NASDAQ:MCGC) were the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 1,191,112 shares, a drop of 36.7% from the July 15th total of 1,882,638 shares, Analyst Ratings Net reports. Based on an average daily volume of 506,573 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.9% of the shares of the stock are sold short.
Several analysts have recently commented on the stock. Analysts at FBR Capital Markets raised their price target on shares of MCG Capital Corp from $3.75 to $4.20 in a research note on Friday, August 8th.
MCG Capital Corp (NASDAQ:MCGC) opened at 3.96 on Friday. MCG Capital Corp has a 52-week low of $3.20 and a 52-week high of $5.36. The stock has a 50-day moving average of $3.92 and a 200-day moving average of $3.81. The company’s market cap is $257.4 million.
MCG Capital Corp (NASDAQ:MCGC) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.01. The company had revenue of $9.50 million for the quarter, compared to the consensus estimate of $8.74 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 26.4% on a year-over-year basis. Analysts expect that MCG Capital Corp will post $0.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, August 18th.
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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