Monroe Capital Corporation (MRCC) Announces Earnings Results, Misses Estimates By $0.01 EPS
Monroe Capital Corporation (NASDAQ:MRCC) announced its earnings results on Tuesday. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01, Bloomberg Earnings reports. Monroe Capital Corporation had a return on equity of 10.23% and a net margin of 41.75%.
Shares of Monroe Capital Corporation (NASDAQ:MRCC) traded down 1.25% during trading on Tuesday, reaching $14.18. 230,438 shares of the company were exchanged. Monroe Capital Corporation has a one year low of $13.60 and a one year high of $16.37. The stock has a 50-day moving average price of $15.06 and a 200-day moving average price of $15.50.
In other news, Director Jeffrey D. Steele purchased 6,425 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $96,375.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $270,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Theodore L. Koenig purchased 16,697 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased at an average price of $14.95 per share, with a total value of $249,620.15. The disclosure for this purchase can be found here. Insiders have purchased a total of 28,832 shares of company stock valued at $434,443 over the last quarter. 1.90% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. National Securities reissued a “buy” rating and set a $17.00 target price on shares of Monroe Capital Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research downgraded shares of Monroe Capital Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Monroe Capital Corporation presently has an average rating of “Hold” and a consensus target price of $17.13.
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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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