Advisor Group Inc. Sells 58,916 Shares of Monroe Capital Corporation (MRCC)
Advisor Group Inc. cut its position in Monroe Capital Corporation (NASDAQ:MRCC) by 86.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,252 shares of the financial services provider’s stock after selling 58,916 shares during the quarter. Advisor Group Inc.’s holdings in Monroe Capital were worth $133,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MML Investors Services LLC boosted its stake in Monroe Capital by 0.4% in the 2nd quarter. MML Investors Services LLC now owns 19,749 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 70 shares during the period. Royal Bank of Canada boosted its stake in Monroe Capital by 1.6% in the 2nd quarter. Royal Bank of Canada now owns 19,480 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 314 shares during the period. Homrich & Berg boosted its stake in Monroe Capital by 0.7% in the 2nd quarter. Homrich & Berg now owns 134,502 shares of the financial services provider’s stock valued at $2,048,000 after purchasing an additional 869 shares during the period. Janney Montgomery Scott LLC boosted its stake in Monroe Capital by 0.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 184,334 shares of the financial services provider’s stock valued at $2,807,000 after purchasing an additional 1,521 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in Monroe Capital by 1.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 98,669 shares of the financial services provider’s stock valued at $1,511,000 after purchasing an additional 1,549 shares during the period. Institutional investors and hedge funds own 29.79% of the company’s stock.
Several analysts recently issued reports on MRCC shares. Ladenburg Thalmann Financial Services upgraded Monroe Capital from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, August 10th. BidaskClub cut Monroe Capital from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. National Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Monroe Capital in a report on Monday, August 14th. Zacks Investment Research raised Monroe Capital from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, TheStreet cut Monroe Capital from a “b” rating to a “c+” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Monroe Capital has an average rating of “Hold” and an average price target of $16.50.
Monroe Capital Corporation (NASDAQ:MRCC) opened at $14.46 on Friday. The firm has a market capitalization of $292.67, a price-to-earnings ratio of 10.31 and a beta of 0.58. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. Monroe Capital Corporation has a fifty-two week low of $13.32 and a fifty-two week high of $16.20.
In related news, Chairman Theodore L. Koenig acquired 21,800 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average cost of $13.61 per share, with a total value of $296,698.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.
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About Monroe Capital
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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