Monroe Capital Corporation (NASDAQ:MRCC) Rating Lowered to Strong Sell at BidaskClub
Monroe Capital Corporation (NASDAQ:MRCC) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Monroe Capital Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. National Securities reiterated a “buy” rating and issued a $17.00 target price on shares of Monroe Capital Corporation in a research note on Monday, May 15th. Finally, Ladenburg Thalmann Financial Services upgraded shares of Monroe Capital Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.13.
Shares of Monroe Capital Corporation (MRCC) traded up 0.387% during mid-day trading on Thursday, reaching $14.265. The company’s stock had a trading volume of 18,928 shares. Monroe Capital Corporation has a 12 month low of $13.60 and a 12 month high of $16.37. The company has a 50 day moving average price of $14.95 and a 200 day moving average price of $15.46.
Monroe Capital Corporation (NASDAQ:MRCC) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. Monroe Capital Corporation had a net margin of 31.60% and a return on equity of 9.82%. The firm had revenue of $12.27 million during the quarter, compared to the consensus estimate of $12.40 million. Equities analysts expect that Monroe Capital Corporation will post $1.43 EPS for the current fiscal year.
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In related news, Chairman Theodore L. Koenig purchased 16,697 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was acquired at an average price of $14.95 per share, with a total value of $249,620.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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, with a total value of $96,375.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $270,000. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
Several hedge funds have recently modified their holdings of MRCC. Liberty Capital Management Inc. bought a new stake in shares of Monroe Capital Corporation during the second quarter worth $103,000. JPMorgan Chase & Co. bought a new stake in shares of Monroe Capital Corporation during the second quarter worth $114,000. KCG Holdings Inc. bought a new stake in shares of Monroe Capital Corporation during the first quarter worth $158,000. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Monroe Capital Corporation during the first quarter worth $208,000. Finally, Sigma Planning Corp bought a new stake in shares of Monroe Capital Corporation during the first quarter worth $231,000. 27.81% of the stock is owned by institutional investors and hedge funds.
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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