Monroe Capital (NASDAQ:MRCC) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Monroe Capital Corporation (NASDAQ:MRCC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.72 and traded as high as $6.77. Monroe Capital shares last traded at $6.71, with a volume of 157,525 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Monroe Capital in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.00.

Monroe Capital Stock Performance

The business’s fifty day moving average is $6.41 and its two-hundred day moving average is $6.73. The stock has a market capitalization of $145.41 million, a PE ratio of -35.32 and a beta of 0.74. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 1.22.

Monroe Capital (NASDAQ:MRCC) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.06). Monroe Capital had a negative net margin of 9.58% and a positive return on equity of 8.49%. The firm had revenue of $6.87 million during the quarter, compared to analysts’ expectations of $8.84 million. As a group, research analysts anticipate that Monroe Capital Corporation will post 1.14 EPS for the current fiscal year.

Monroe Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, December 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 10.7%. Monroe Capital’s payout ratio is presently -378.95%.

Institutional Trading of Monroe Capital

A number of large investors have recently made changes to their positions in MRCC. Bulldog Investors LLP bought a new stake in Monroe Capital during the 3rd quarter valued at about $4,570,000. Caprock Group LLC purchased a new position in Monroe Capital during the 3rd quarter worth $3,239,000. Magnolia Capital Advisors LLC raised its position in Monroe Capital by 6.7% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 131,135 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 8,253 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of Monroe Capital by 165.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 124,843 shares of the financial services provider’s stock worth $876,000 after buying an additional 77,725 shares in the last quarter. Finally, Almitas Capital LLC purchased a new position in shares of Monroe Capital during the third quarter valued at $765,000.

About Monroe Capital

Monroe Capital Corporation (NASDAQ: MRCC) is a publicly traded business development company that specializes in providing flexible debt financing solutions to middle-market companies across North America. The firm structures and underwrites a range of senior secured loans, unitranche financings, second-lien loans, mezzanine debt and equity co-investments. Monroe Capital’s offerings are designed to support corporate growth, acquisitions, recapitalizations and refinancings across diverse industries, including business services, healthcare, manufacturing and specialty finance.

Headquartered in Chicago, Illinois, Monroe Capital was founded in 2004 and has since built a national footprint by maintaining offices in key U.S.