Commonwealth Equity Services LLC Has $1.37 Million Holdings in Monroe Capital Corp (MRCC)
Commonwealth Equity Services LLC boosted its stake in Monroe Capital Corp (NASDAQ:MRCC) by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,124 shares of the financial services provider’s stock after purchasing an additional 15,514 shares during the period. Commonwealth Equity Services LLC’s holdings in Monroe Capital were worth $1,373,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Capital Investment Advisory Services LLC purchased a new position in Monroe Capital in the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC increased its stake in Monroe Capital by 3.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 116,082 shares of the financial services provider’s stock worth $1,114,000 after purchasing an additional 3,437 shares during the period. Cliffwater LLC increased its stake in Monroe Capital by 2.6% in the 4th quarter. Cliffwater LLC now owns 216,076 shares of the financial services provider’s stock worth $2,074,000 after purchasing an additional 5,434 shares during the period. BlackRock Inc. increased its stake in Monroe Capital by 10.0% in the 3rd quarter. BlackRock Inc. now owns 98,961 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 8,959 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Monroe Capital by 16.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 79,199 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 11,091 shares during the period. 23.78% of the stock is currently owned by institutional investors and hedge funds.
MRCC opened at $12.60 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.49 and a current ratio of 3.49. Monroe Capital Corp has a 52-week low of $9.10 and a 52-week high of $14.65. The company has a market cap of $257.61 million, a PE ratio of 8.03 and a beta of 1.16.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 11.11%. Monroe Capital’s dividend payout ratio (DPR) is presently 89.17%.
In other Monroe Capital news, Chairman Theodore L. Koenig bought 10,700 shares of Monroe Capital stock in a transaction dated Friday, December 21st. The shares were purchased at an average cost of $9.34 per share, with a total value of $99,938.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Daniel Peck bought 4,500 shares of Monroe Capital stock in a transaction dated Monday, December 24th. The shares were acquired at an average cost of $9.20 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the chief financial officer now directly owns 10,436 shares of the company’s stock, valued at approximately $96,011.20. The disclosure for this purchase can be found here. Insiders have bought 16,400 shares of company stock worth $152,978 over the last three months. Insiders own 1.90% of the company’s stock.
MRCC has been the topic of a number of analyst reports. Zacks Investment Research cut Monroe Capital from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine cut Monroe Capital from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. National Securities reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Monroe Capital in a research note on Thursday, March 7th. Finally, BidaskClub cut Monroe Capital from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.13.
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About Monroe Capital
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.
Further Reading: Leveraged Buyout (LBO)
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