Monroe Capital Corporation (NASDAQ:MRCC) Posts Quarterly Earnings Results
Monroe Capital Corporation (NASDAQ:MRCC) issued its earnings results on Tuesday. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by $0.01, Bloomberg Earnings reports. Monroe Capital Corporation had a net margin of 41.75% and a return on equity of 10.23%.
Shares of Monroe Capital Corporation (NASDAQ MRCC) traded down 1.25% during mid-day trading on Tuesday, hitting $14.18. 230,438 shares of the company’s stock traded hands. The firm has a 50-day moving average of $15.06 and a 200 day moving average of $15.50. Monroe Capital Corporation has a 52 week low of $13.60 and a 52 week high of $16.37.
In other Monroe Capital Corporation news, Chairman Theodore L. Koenig purchased 16,697 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was purchased at an average price of $14.95 per share, with a total value of $249,620.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey D. Steele purchased 6,425 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were acquired at an average cost of $15.00 per share, with a total value of $96,375.00. Following the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $270,000. The disclosure for this purchase can be found here. Insiders have bought 28,832 shares of company stock valued at $434,443 in the last ninety days. Insiders own 1.90% of the company’s stock.
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Several analysts have commented on MRCC shares. Zacks Investment Research cut shares of Monroe Capital Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. National Securities reiterated a “buy” rating and set a $17.00 target price on shares of Monroe Capital Corporation in a research report on Monday, May 15th. Finally, BidaskClub cut shares of Monroe Capital Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Monroe Capital Corporation currently has an average rating of “Hold” and an average target price of $17.13.
Monroe Capital Corporation Company Profile
Monroe Capital Corporation is a closed-end, non-diversified management investment company. The Company is a specialty finance company focused on providing financing primarily to lower middle-market companies in the United States and Canada. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation primarily through investments in senior, unitranche and junior secured debt, and unsecured subordinated debt and equity.
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