Advisors Asset Management Inc. cut its position in shares of Monroe Capital Corporation (NASDAQ:MRCC) by 18.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 390,834 shares of the financial services provider’s stock after selling 90,858 shares during the quarter. Advisors Asset Management Inc. owned approximately 1.93% of Monroe Capital Corporation worth $5,593,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in Monroe Capital Corporation during the second quarter valued at approximately $114,000. Financial Counselors Inc. acquired a new stake in Monroe Capital Corporation in the 2nd quarter valued at about $156,000. KCG Holdings Inc. acquired a new stake in Monroe Capital Corporation in the 1st quarter valued at about $158,000. Marshall Wace North America L.P. acquired a new stake in Monroe Capital Corporation in the 2nd quarter valued at about $225,000. Finally, Royal Bank of Canada lifted its holdings in Monroe Capital Corporation by 1.6% in the 2nd quarter. Royal Bank of Canada now owns 19,480 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 314 shares during the last quarter. Institutional investors and hedge funds own 27.90% of the company’s stock.
In related news, Chairman Theodore L. Koenig acquired 21,800 shares of the stock in a transaction dated Thursday, September 7th. The stock was purchased at an average cost of $13.61 per share, with a total value of $296,698.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
Shares of Monroe Capital Corporation (MRCC) traded down $0.05 during mid-day trading on Tuesday, hitting $14.53. The stock had a trading volume of 81,500 shares, compared to its average volume of 99,568. Monroe Capital Corporation has a 12 month low of $13.32 and a 12 month high of $16.20. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $295.10, a PE ratio of 10.41 and a beta of 0.58.
Several equities research analysts have recently weighed in on MRCC shares. Zacks Investment Research raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Ladenburg Thalmann Financial Services upgraded 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. BidaskClub lowered Monroe Capital Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. National Securities reiterated a “buy” rating and set a $17.00 price objective on shares of Monroe Capital Corporation in a report on Monday, November 13th. Finally, TheStreet lowered Monroe Capital Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Monroe Capital Corporation presently has a consensus rating of “Hold” and a consensus 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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