Monroe Capital Corp (NASDAQ:MRCC) Sees Significant Growth in Short Interest

Monroe Capital Corp (NASDAQ:MRCC) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 190,300 shares, a growth of 8.9% from the May 15th total of 174,800 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 81,000 shares, the days-to-cover ratio is currently 2.3 days.

Several equities research analysts have recently weighed in on MRCC shares. Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 16th. BidaskClub raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. National Securities reissued a “buy” rating and set a $35.00 price objective on shares of Calyxt in a report on Thursday, May 9th. Finally, ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Monroe Capital has an average rating of “Hold” and an average price target of $13.13.

Monroe Capital stock traded down $0.10 during trading hours on Friday, reaching $11.19. 98,423 shares of the company’s stock traded hands, compared to its average volume of 68,626. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.73 and a quick ratio of 3.73. Monroe Capital has a fifty-two week low of $9.10 and a fifty-two week high of $14.05. The company has a market cap of $228.78 million, a price-to-earnings ratio of 7.13 and a beta of 1.12. The business’s 50 day moving average price is $11.50.

Monroe Capital (NASDAQ:MRCC) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The firm had revenue of $16.16 million during the quarter, compared to analyst estimates of $16.58 million. Monroe Capital had a net margin of 19.97% and a return on equity of 11.59%. On average, analysts forecast that Monroe Capital will post 1.44 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.35 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.51%. Monroe Capital’s dividend payout ratio is 89.17%.

Hedge funds have recently made changes to their positions in the business. Advisory Alpha LLC bought a new position in shares of Monroe Capital during the 1st quarter worth approximately $36,000. Quad Cities Investment Group LLC grew its stake in shares of Monroe Capital by 3,000.0% in the first quarter. Quad Cities Investment Group LLC now owns 3,100 shares of the financial services provider’s stock valued at $37,000 after buying an additional 3,000 shares in the last quarter. Alera Investment Advisors LLC grew its stake in shares of Monroe Capital by 45.0% in the first quarter. Alera Investment Advisors LLC now owns 4,721 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,466 shares in the last quarter. First Allied Advisory Services Inc. bought a new position in shares of Monroe Capital in the first quarter valued at $141,000. Finally, CFO4Life Group LLC grew its stake in shares of Monroe Capital by 21.2% in the first quarter. CFO4Life Group LLC now owns 14,150 shares of the financial services provider’s stock valued at $172,000 after buying an additional 2,475 shares in the last quarter. Hedge funds and other institutional investors own 21.61% 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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