Verity Asset Management Inc. acquired a new stake in shares of Monroe Capital Corporation (NASDAQ:MRCC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,589 shares of the financial services provider’s stock, valued at approximately $329,000.
A number of other institutional investors have also recently bought and sold shares of MRCC. Liberty Capital Management Inc. bought a new stake in Monroe Capital Corporation during the second quarter valued at about $103,000. JPMorgan Chase & Co. bought a new stake in Monroe Capital Corporation during the second quarter valued at about $114,000. Financial Counselors Inc. bought a new stake in Monroe Capital Corporation during the second quarter valued at about $156,000. KCG Holdings Inc. bought a new stake in Monroe Capital Corporation during the first quarter valued at about $158,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new stake in Monroe Capital Corporation during the first quarter valued at about $208,000. Institutional investors own 28.93% of the company’s stock.
Several analysts have issued reports on MRCC shares. BidaskClub raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. National Securities reissued a “buy” rating and set a $17.00 price target on shares of Monroe Capital Corporation in a report on Monday, August 14th. TheStreet lowered Monroe Capital Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Ladenburg Thalmann Financial Services raised Monroe Capital Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, August 10th. Finally, Zacks Investment Research raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.50.
In other Monroe Capital Corporation news, Chairman Theodore L. Koenig bought 21,800 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average cost of $13.61 per share, for a total transaction of $296,698.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.
Monroe Capital Corporation (MRCC) traded down 0.15% during trading on Friday, hitting $13.55. The stock had a trading volume of 93,029 shares. Monroe Capital Corporation has a 52-week low of $13.32 and a 52-week high of $16.20. The firm’s 50-day moving average price is $14.00 and its 200-day moving average price is $15.10.
Monroe Capital Corporation (NASDAQ:MRCC) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Monroe Capital Corporation had a net margin of 31.60% and a return on equity of 9.39%. The business had revenue of $12.27 million for the quarter, compared to analyst estimates of $12.40 million. On average, analysts forecast that Monroe Capital Corporation will post $1.40 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.33%. The ex-dividend date is Thursday, September 14th. Monroe Capital Corporation’s dividend payout ratio (DPR) is presently 157.31%.
Monroe Capital Corporation 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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