Monroe Capital Corporation (MRCC) Given Average Rating of “Hold” by Analysts
Monroe Capital Corporation (NASDAQ:MRCC) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.50.
A number of equities analysts recently commented on the stock. National Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Monroe Capital Corporation in a research note on Monday, May 15th. BidaskClub raised shares of Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Ladenburg Thalmann Financial Services raised shares of Monroe Capital Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, August 10th. Finally, TheStreet lowered shares of Monroe Capital Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th.
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Shares of Monroe Capital Corporation (MRCC) traded up 1.54% on Friday, hitting $13.82. The company’s stock had a trading volume of 213,744 shares. The stock’s 50 day moving average is $14.26 and its 200-day moving average is $15.21. Monroe Capital Corporation has a 52 week low of $13.41 and a 52 week high of $16.20.
Monroe Capital Corporation (NASDAQ:MRCC) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. Monroe Capital Corporation had a return on equity of 9.39% and a net margin of 31.60%. The firm had revenue of $12.27 million during the quarter, compared to analyst estimates of $12.40 million. On average, analysts expect that Monroe Capital Corporation will post $1.40 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.13%. The ex-dividend date of this dividend is Thursday, September 14th. Monroe Capital Corporation’s dividend payout ratio (DPR) is currently 157.31%.
In related news, Director Jeffrey D. Steele bought 6,425 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was bought at an average price 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Theodore L. Koenig bought 16,697 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were bought at an average cost of $14.95 per share, with a total value of $249,620.15. The disclosure for this purchase can be found here. Insiders have acquired a total of 44,922 shares of company stock valued at $642,693 in the last three months. Company insiders own 1.90% of the company’s stock.
Large investors have recently modified their holdings of the business. Liberty Capital Management Inc. acquired a new stake in shares of Monroe Capital Corporation during the 2nd quarter valued at $103,000. JPMorgan Chase & Co. acquired a new stake in shares of Monroe Capital Corporation during the 2nd quarter valued at $114,000. Financial Counselors Inc. acquired a new stake in shares of Monroe Capital Corporation during the 2nd quarter valued at $156,000. KCG Holdings Inc. acquired a new stake in shares of Monroe Capital Corporation during the 1st quarter valued at $158,000. Finally, Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of Monroe Capital Corporation during the 1st quarter valued at $208,000. 28.93% of the stock is owned by institutional investors.
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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