Monroe Capital (NASDAQ:MRCC) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Monroe Capital (NASDAQ:MRCCGet Rating) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com 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. “

Other equities analysts have also recently issued research reports about the company. TheStreet upgraded Monroe Capital from a c rating to a b- rating in a research report on Friday, March 25th. StockNews.com assumed coverage on Monroe Capital in a research report on Thursday, March 31st. They issued a hold rating on the stock.

Shares of NASDAQ MRCC opened at $10.16 on Friday. The company has a market capitalization of $220.13 million, a price-to-earnings ratio of 8.26 and a beta of 1.22. The company has a debt-to-equity ratio of 1.28, a current ratio of 3.15 and a quick ratio of 3.15. The business has a 50-day moving average of $10.38 and a two-hundred day moving average of $10.83. Monroe Capital has a 1 year low of $9.56 and a 1 year high of $11.85.

Monroe Capital (NASDAQ:MRCCGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $13.04 million during the quarter, compared to the consensus estimate of $13.36 million. Monroe Capital had a return on equity of 9.13% and a net margin of 49.43%. During the same period in the previous year, the business earned $0.25 EPS. As a group, equities research analysts expect that Monroe Capital will post 1.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Wednesday, March 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.84%. The ex-dividend date was Tuesday, March 15th. Monroe Capital’s payout ratio is 81.30%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in shares of Monroe Capital by 29.2% during the 1st quarter. Advisors Asset Management Inc. now owns 192,947 shares of the financial services provider’s stock worth $2,082,000 after acquiring an additional 43,550 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Monroe Capital during the 1st quarter worth approximately $215,000. Cliffwater LLC boosted its stake in shares of Monroe Capital by 1.7% during the 1st quarter. Cliffwater LLC now owns 327,316 shares of the financial services provider’s stock worth $3,532,000 after acquiring an additional 5,387 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Monroe Capital by 18.6% during the 1st quarter. Cetera Investment Advisers now owns 105,388 shares of the financial services provider’s stock worth $1,137,000 after acquiring an additional 16,540 shares in the last quarter. Finally, Fiduciary Group LLC boosted its stake in shares of Monroe Capital by 12.5% during the 1st quarter. Fiduciary Group LLC now owns 22,500 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 19.07% of the company’s stock.

About Monroe Capital (Get Rating)

Monroe Capital Corporation is a business development company specializing in customized financing solutions in senior, unitranche and junior secured debt, subordinated debt financing and to a lesser extent, unsecured debt and equity, including equity co-investments in preferred and common stock and warrants.

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