Zacks Investment Research Upgrades Monroe Capital (NASDAQ:MRCC) to “Hold”

Monroe Capital (NASDAQ:MRCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, 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. “

Several other equities analysts have also recently issued reports on MRCC. ValuEngine upgraded shares of Monroe Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. B. Riley reduced their price target on shares of Monroe Capital from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday. Five research analysts have rated the stock with a hold rating, Monroe Capital currently has a consensus rating of “Hold” and a consensus target price of $12.67.

Shares of NASDAQ:MRCC traded up $0.05 during midday trading on Tuesday, hitting $11.82. 1,590 shares of the stock traded hands, compared to its average volume of 169,254. The stock has a market capitalization of $241.60 million, a PE ratio of 7.52 and a beta of 1.15. The business’s 50 day moving average is $11.19 and its two-hundred day moving average is $10.92. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 1.71. Monroe Capital has a one year low of $9.87 and a one year high of $13.38.

Monroe Capital (NASDAQ:MRCC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $17.33 million during the quarter, compared to the consensus estimate of $17.60 million. Monroe Capital had a net margin of 24.99% and a return on equity of 11.38%. As a group, sell-side analysts forecast that Monroe Capital will post 1.4 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Monroe Capital by 11.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 354,011 shares of the financial services provider’s stock valued at $4,085,000 after buying an additional 36,173 shares during the period. Rothschild Investment Corp IL increased its position in shares of Monroe Capital by 3.3% during the third quarter. Rothschild Investment Corp IL now owns 88,141 shares of the financial services provider’s stock valued at $930,000 after buying an additional 2,800 shares during the period. Morgan Stanley increased its position in shares of Monroe Capital by 50.7% during the second quarter. Morgan Stanley now owns 58,112 shares of the financial services provider’s stock valued at $670,000 after buying an additional 19,551 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Monroe Capital by 18.0% during the third quarter. Envestnet Asset Management Inc. now owns 55,385 shares of the financial services provider’s stock valued at $584,000 after buying an additional 8,452 shares during the period. Finally, Northern Trust Corp purchased a new position in shares of Monroe Capital during the second quarter valued at about $424,000. Institutional investors own 22.99% 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.

Further Reading: S&P/ASX 200 Index

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