Monroe Capital (NASDAQ:MRCC) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Monroe Capital (NASDAQ:MRCC) from a hold rating to a sell rating in a report published on Saturday morning, reports.

According to Zacks, “Monroe Capital Corporation is a non-diversified closed-end management investment 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 through investments in senior, unitranche and junior secured debt and unsecured debt and equity investments. Monroe Capital Corporation is headquartered in Chicago. “

A number of other brokerages have also recently weighed in on MRCC. ValuEngine cut Monroe Capital from a hold rating to a sell rating in a research report on Monday, June 3rd. National Securities restated a neutral rating and issued a $13.00 price target on shares of Monroe Capital in a research report on Thursday, May 9th. Finally, BidaskClub upgraded Monroe Capital from a sell rating to a hold rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $13.13.

Shares of MRCC stock opened at $10.66 on Friday. Monroe Capital has a fifty-two week low of $9.10 and a fifty-two week high of $14.05. The stock has a market capitalization of $219.93 million, a PE ratio of 6.79 and a beta of 1.12. The firm has a fifty day moving average price of $11.36. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 1.58.

Monroe Capital (NASDAQ:MRCC) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Monroe Capital had a return on equity of 11.43% and a net margin of 18.88%. The business had revenue of $16.72 million during the quarter, compared to analysts’ expectations of $17.00 million. Analysts forecast that Monroe Capital will post 1.4 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new stake in Monroe Capital during the 2nd quarter worth about $30,000. Crewe Advisors LLC purchased a new stake in Monroe Capital during the 2nd quarter worth about $32,000. Advisory Alpha LLC purchased a new stake in Monroe Capital during the 1st quarter worth about $36,000. JPMorgan Chase & Co. purchased a new stake in Monroe Capital during the 2nd quarter worth about $48,000. Finally, Alera Investment Advisors LLC increased its position in Monroe Capital by 45.0% during the 1st quarter. Alera Investment Advisors LLC now owns 4,721 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,466 shares in the last quarter. Hedge funds and other institutional investors own 21.55% of the company’s stock.

Monroe Capital Company Profile

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.

See Also: Accumulation/Distribution

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