Monroe Capital (NASDAQ:MRCC) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Monroe Capital Corporation (NASDAQ:MRCC) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.73 and traded as low as $6.12. Monroe Capital shares last traded at $6.19, with a volume of 174,907 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Monroe Capital in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Monroe Capital currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Monroe Capital Stock Performance

The company has a debt-to-equity ratio of 1.22, a current ratio of 5.87 and a quick ratio of 5.87. The stock has a market cap of $134.14 million, a PE ratio of -32.58 and a beta of 0.72. The business has a 50 day moving average price of $6.60 and a two-hundred day moving average price of $6.73.

Monroe Capital (NASDAQ:MRCC) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.06). The firm had revenue of $6.87 million during the quarter, compared to analysts’ expectations of $8.84 million. Monroe Capital had a positive return on equity of 8.49% and a negative net margin of 9.58%. As a group, equities research analysts forecast that Monroe Capital Corporation will post 1.14 EPS for the current fiscal year.

Monroe Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 11.6%. Monroe Capital’s dividend payout ratio is presently -526.32%.

Hedge Funds Weigh In On Monroe Capital

Hedge funds have recently made changes to their positions in the business. Ascent Group LLC purchased a new stake in Monroe Capital in the first quarter worth $80,000. Chapin Davis Inc. raised its holdings in Monroe Capital by 73.6% in the 2nd quarter. Chapin Davis Inc. now owns 47,181 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 20,000 shares in the last quarter. Trexquant Investment LP bought a new position in Monroe Capital in the 1st quarter worth $186,000. MAS Advisors LLC lifted its position in shares of Monroe Capital by 4.8% in the 2nd quarter. MAS Advisors LLC now owns 41,123 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 1,893 shares during the period. Finally, Magnolia Capital Advisors LLC boosted its stake in shares of Monroe Capital by 6.7% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 131,135 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 8,253 shares in the last quarter.

About Monroe Capital

Monroe Capital Corporation (NASDAQ: MRCC) is a publicly traded business development company that specializes in providing flexible debt financing solutions to middle-market companies across North America. The firm structures and underwrites a range of senior secured loans, unitranche financings, second-lien loans, mezzanine debt and equity co-investments. Monroe Capital’s offerings are designed to support corporate growth, acquisitions, recapitalizations and refinancings across diverse industries, including business services, healthcare, manufacturing and specialty finance.

Headquartered in Chicago, Illinois, Monroe Capital was founded in 2004 and has since built a national footprint by maintaining offices in key U.S.