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

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Zacks Investment Research downgraded shares of Monroe Capital (NASDAQ:MRCC) from a hold rating to a sell rating in a research report sent to investors on Saturday, 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. “

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

Monroe Capital stock opened at $10.76 on Friday. Monroe Capital has a 52 week low of $9.10 and a 52 week high of $14.05. The business’s 50-day simple moving average is $11.37. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.21 and a current ratio of 4.21. The stock has a market capitalization of $224.28 million, a PE ratio of 6.85 and a beta of 1.12.

Monroe Capital (NASDAQ:MRCC) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate 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. Equities research analysts predict that Monroe Capital will post 1.4 EPS for the current year.

A number of hedge funds have recently modified their holdings of MRCC. Ashfield Capital Partners LLC boosted its holdings in Monroe Capital by 817.3% during the 1st quarter. Ashfield Capital Partners LLC now owns 120,736 shares of the financial services provider’s stock valued at $1,466,000 after acquiring an additional 107,574 shares during the period. Fiera Capital Corp purchased a new stake in Monroe Capital during the 2nd quarter valued at about $969,000. Northern Trust Corp purchased a new stake in Monroe Capital during the 2nd quarter valued at about $424,000. Bank of Montreal Can purchased a new stake in Monroe Capital during the 1st quarter valued at about $304,000. Finally, GYL Financial Synergies LLC purchased a new stake in Monroe Capital during the 1st quarter valued at about $272,000. 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.

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Analyst Recommendations for Monroe Capital (NASDAQ:MRCC)

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