Monroe Capital Corporation (MRCC) Declares Quarterly Dividend of $0.35
Monroe Capital Corporation (NASDAQ:MRCC) announced a quarterly dividend on Thursday, August 31st, RTT News reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.35 per share by the financial services provider on Friday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.16%.
Monroe Capital Corporation (MRCC) traded down 0.58% during midday trading on Thursday, hitting $13.79. The company’s stock had a trading volume of 128,310 shares. The stock has a 50 day moving average of $14.58 and a 200 day moving average of $15.33. Monroe Capital Corporation has a 52-week low of $13.46 and a 52-week high of $16.37.
Monroe Capital Corporation (NASDAQ:MRCC) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. Monroe Capital Corporation had a net margin of 31.60% and a return on equity of 9.39%. The firm had revenue of $12.27 million for the quarter, compared to analysts’ expectations of $12.40 million. Analysts expect that Monroe Capital Corporation will post $1.40 earnings per share for the current year.
In related news, Chairman Theodore L. Koenig acquired 16,697 shares of Monroe Capital Corporation stock in a transaction dated Tuesday, June 13th. The shares were purchased at an average cost 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 available at this hyperlink. Also, Director Jeffrey D. Steele acquired 6,425 shares of Monroe Capital Corporation stock in a transaction dated Tuesday, June 20th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $96,375.00. Following the completion of 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. 1.90% of the stock is currently owned by company insiders.
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A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Monroe Capital Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. National Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of Monroe Capital Corporation in a research note on Monday, May 15th. BidaskClub raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Ladenburg Thalmann Financial Services raised Monroe Capital Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, August 10th. Finally, TheStreet cut Monroe Capital Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Monroe Capital Corporation currently has an average rating of “Hold” and an average target price of $16.50.
About Monroe Capital Corporation
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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