Monroe Capital (MRCC) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Monroe Capital (NASDAQ:MRCC) from a hold rating to a buy rating in a research report report published on Tuesday. The brokerage currently has $14.00 price objective on the financial services provider’s stock.
According to Zacks, “Monroe Capital Corporation is a non-diversified closed-end management investment 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 through investments in senior, unitranche and junior secured debt and unsecured debt and equity investments. Monroe Capital Corporation is headquartered in Chicago. “
Other analysts have also recently issued reports about the stock. ValuEngine raised shares of Monroe Capital from a sell rating to a hold rating in a report on Monday, February 4th. BidaskClub lowered shares of Monroe Capital from a buy rating to a hold rating in a research report on Thursday, February 28th. TheStreet lowered shares of Monroe Capital from a b- rating to a c rating in a research report on Friday, November 16th. Finally, National Securities reiterated a neutral rating and issued a $13.00 price target on shares of Monroe Capital in a research report on Thursday, March 7th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Monroe Capital presently has a consensus rating of Hold and an average price target of $13.13.
Monroe Capital (NASDAQ:MRCC) last announced its earnings results on Tuesday, March 5th. The financial services provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Monroe Capital had a net margin of 10.02% and a return on equity of 11.96%. As a group, research analysts predict that Monroe Capital will post 1.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.35 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 11.28%. Monroe Capital’s payout ratio is currently 89.17%.
In other news, CFO Aaron Daniel Peck purchased 4,500 shares of the company’s stock in a transaction on Monday, December 24th. The stock was acquired at an average cost of $9.20 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the chief financial officer now directly owns 10,436 shares in the company, valued at approximately $96,011.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Theodore L. Koenig purchased 10,700 shares of the company’s stock in a transaction on Friday, December 21st. The stock was purchased at an average price of $9.34 per share, with a total value of $99,938.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 16,400 shares of company stock valued at $152,978. Company insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Cliffwater LLC boosted its position in shares of Monroe Capital by 2.6% during the fourth quarter. Cliffwater LLC now owns 216,076 shares of the financial services provider’s stock worth $2,074,000 after acquiring an additional 5,434 shares during the last quarter. BlackRock Inc. boosted its position in shares of Monroe Capital by 10.0% during the third quarter. BlackRock Inc. now owns 98,961 shares of the financial services provider’s stock worth $1,343,000 after acquiring an additional 8,959 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Monroe Capital by 16.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 79,199 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 11,091 shares during the last quarter. Wiley BROS. Aintree Capital LLC bought a new position in shares of Monroe Capital during the fourth quarter worth $186,000. Finally, Mackenzie Financial Corp boosted its position in shares of Monroe Capital by 73.1% during the third quarter. Mackenzie Financial Corp now owns 36,387 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 15,369 shares during the last quarter. Institutional investors and hedge funds own 23.78% of the company’s stock.
Monroe Capital Company Profile
Monroe Capital Corporation is a business development company specializing in senior, unitranche and junior secured debt and to a lesser extent, unsecured debt and equity investments, and buyouts in middle-market companies. The fund prefers to invest in casinos and gaming, broadcasting, publishing, alcoholic beverage and tobacco distribution, oil and gas, insurance, pharmaceuticals and bio sciences, aerospace and defense, commercial printing, natural rubber, glass, container and packaging, metals and mining, and real estate.
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