WESPAC Advisors LLC increased its position in shares of Monroe Capital Corporation (NASDAQ:MRCC) by 63.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,940 shares of the financial services provider’s stock after purchasing an additional 25,308 shares during the period. WESPAC Advisors LLC’s holdings in Monroe Capital Corporation were worth $989,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Liberty Capital Management Inc. acquired a new position in shares of Monroe Capital Corporation during the second quarter worth $103,000. JPMorgan Chase & Co. acquired a new position in shares of Monroe Capital Corporation during the second quarter worth $114,000. KCG Holdings Inc. acquired a new position in shares of Monroe Capital Corporation during the first quarter worth $158,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in shares of Monroe Capital Corporation during the first quarter worth $208,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Monroe Capital Corporation during the second quarter worth $225,000. Hedge funds and other institutional investors own 28.93% of the company’s stock.
In other Monroe Capital Corporation news, Chairman Theodore L. Koenig purchased 21,800 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $13.61 per share, with a total value of $296,698.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.
Monroe Capital Corporation (NASDAQ MRCC) opened at 13.57 on Thursday. Monroe Capital Corporation has a 1-year low of $13.32 and a 1-year high of $16.20. The firm has a 50-day moving average of $14.00 and a 200 day moving average of $15.10.
Monroe Capital Corporation (NASDAQ:MRCC) last announced its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The company had revenue of $12.27 million for the quarter, compared to analyst estimates of $12.40 million. Monroe Capital Corporation had a return on equity of 9.39% and a net margin of 31.60%. On average, equities research analysts forecast that Monroe Capital Corporation will post $1.40 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 10.32%. The ex-dividend date of this dividend is Thursday, September 14th. Monroe Capital Corporation’s dividend payout ratio (DPR) is presently 157.31%.
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A number of brokerages recently commented on MRCC. BidaskClub upgraded shares of Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. National Securities restated a “buy” rating and issued a $17.00 price objective on shares of Monroe Capital Corporation in a research note on Monday, June 12th. Zacks Investment Research upgraded shares of Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Ladenburg Thalmann Financial Services upgraded shares of Monroe Capital Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, August 10th. Finally, TheStreet downgraded shares of Monroe Capital Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.50.
About Monroe Capital Corporation
Monroe Capital Corporation is a closed-end, non-diversified management investment company. The Company is a specialty finance 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 primarily through investments in senior, unitranche and junior secured debt, and unsecured subordinated debt and equity.
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