Monroe Capital Corp (NASDAQ:MRCC) shares rose 29.9% on Wednesday . The stock traded as high as $5.89 and last traded at $6.95, approximately 10,249 shares traded hands during mid-day trading. A decline of 97% from the average daily volume of 332,137 shares. The stock had previously closed at $5.35.
MRCC has been the topic of several recent research reports. ValuEngine downgraded shares of Monroe Capital from a “hold” rating to a “sell” rating in a research report on Tuesday. B. Riley decreased their price target on shares of Monroe Capital from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Monroe Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company has an average rating of “Hold” and an average target price of $11.33.
The stock has a market capitalization of $126.52 million, a P/E ratio of 7.61 and a beta of 1.17. The company’s 50-day moving average price is $9.58 and its 200 day moving average price is $10.62. The company has a debt-to-equity ratio of 1.59, a quick ratio of 4.08 and a current ratio of 4.08.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, March 13th. This represents a $1.40 annualized dividend and a dividend yield of 19.58%. Monroe Capital’s payout ratio is 98.59%.
In related news, CFO Aaron Daniel Peck bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $8.30 per share, with a total value of $33,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore L. Koenig bought 28,260 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $9.18 per share, with a total value of $259,426.80. The disclosure for this purchase can be found here. Insiders have bought a total of 41,095 shares of company stock worth $327,437 over the last 90 days. Insiders own 2.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. purchased a new position in shares of Monroe Capital in the 4th quarter worth $25,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Monroe Capital by 153.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,533 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,533 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Monroe Capital in the 4th quarter worth $73,000. Tower Research Capital LLC TRC purchased a new position in shares of Monroe Capital in the 4th quarter worth $86,000. Finally, Asset Management Corp IL ADV purchased a new position in shares of Monroe Capital in the 4th quarter worth $109,000. 23.39% of the stock is owned by institutional investors.
About Monroe Capital (NASDAQ:MRCC)
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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