Monroe Capital Corporation (NASDAQ:MRCC) Sees Large Decline in Short Interest

Key Points

• Monroe Capital Corporation (NASDAQ:MRCC) experienced a 35.5% decline in short interest in August, with a total of 98,700 shares shorted as of August 15th.
• Significant investments have been made in Monroe Capital, with notable increases in holdings from firms like Millennium Management and Sunbelt Securities during the fourth quarter.
• The company reported earnings of $0.15 EPS for the last quarter, missing estimates of $0.21, alongside revenues of $9.87 million against an expected $12.38 million.

Monroe Capital Corporation (NASDAQ:MRCC - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totaling 98,700 shares, a drop of 35.5% from the July 31st total of 153,100 shares. Currently, 0.5% of the company's shares are sold short. Based on an average daily trading volume, of 95,400 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 95,400 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.5% of the company's shares are sold short.

Monroe Capital Trading Up 0.5%

Shares of MRCC stock traded up $0.04 during trading hours on Thursday, reaching $7.60. The company's stock had a trading volume of 57,818 shares, compared to its average volume of 70,639. The stock has a market capitalization of $164.66 million, a P/E ratio of 84.44 and a beta of 0.91. Monroe Capital has a one year low of $5.96 and a one year high of $8.85. The firm's fifty day simple moving average is $6.78 and its 200 day simple moving average is $6.96. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.16.

Monroe Capital (NASDAQ:MRCC - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The financial services provider reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.06). The business had revenue of $9.87 million during the quarter, compared to the consensus estimate of $12.38 million. Monroe Capital had a return on equity of 10.70% and a net margin of 3.74%. Equities research analysts expect that Monroe Capital will post 1.14 EPS for the current year.

Monroe Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Monday, September 22nd. Monroe Capital's dividend payout ratio (DPR) is currently 1,111.11%.

Institutional Investors Weigh In On Monroe Capital

Several hedge funds have recently made changes to their positions in MRCC. Ascent Group LLC bought a new stake in shares of Monroe Capital during the first quarter valued at approximately $80,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Monroe Capital during the first quarter valued at approximately $84,000. Pandora Wealth Inc. bought a new stake in shares of Monroe Capital during the first quarter valued at approximately $113,000. Aspiriant LLC boosted its position in shares of Monroe Capital by 35.7% during the second quarter. Aspiriant LLC now owns 19,000 shares of the financial services provider's stock valued at $121,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Monroe Capital by 35.3% during the second quarter. Osaic Holdings Inc. now owns 26,250 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 6,845 shares in the last quarter.

About Monroe Capital

Monroe Capital Corporation is a business development company specializing in customized financing solutions in senior, unitranche and junior secured debt, subordinated debt financing and to a lesser extent, unsecured debt and equity, including equity co-investments in preferred and common stock and warrants.