Connor Clark & Lunn Investment Management Ltd. Sells 50,910 Shares of Monroe Capital Corporation $MRCC

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Monroe Capital Corporation (NASDAQ:MRCC) by 70.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,119 shares of the financial services provider’s stock after selling 50,910 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Monroe Capital were worth $134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MRCC. Ascent Group LLC purchased a new stake in shares of Monroe Capital during the 1st quarter valued at about $80,000. Pandora Wealth Inc. bought a new stake in Monroe Capital during the first quarter valued at approximately $113,000. Aspiriant LLC raised its position in Monroe Capital by 35.7% in the second quarter. Aspiriant LLC now owns 19,000 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 5,000 shares during the period. Trexquant Investment LP purchased a new position in shares of Monroe Capital during the 1st quarter worth $186,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Monroe Capital during the 1st quarter valued at $287,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Monroe Capital in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $7.63.

Monroe Capital Price Performance

NASDAQ:MRCC opened at $6.17 on Friday. The business’s 50-day simple moving average is $6.89 and its two-hundred day simple moving average is $6.72. Monroe Capital Corporation has a 52 week low of $5.86 and a 52 week high of $8.85. The stock has a market cap of $133.68 million, a PE ratio of 68.56 and a beta of 0.91. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 1.16.

Monroe Capital (NASDAQ:MRCC) last released its earnings results on Wednesday, November 5th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.06). The business had revenue of $6.87 million for the quarter, compared to analysts’ expectations of $8.84 million. Monroe Capital had a return on equity of 10.70% and a net margin of 3.74%. As a group, analysts forecast that Monroe Capital Corporation will post 1.14 EPS for the current fiscal year.

Monroe Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 16.2%. The ex-dividend date of this dividend was Monday, September 22nd. Monroe Capital’s payout ratio is -526.32%.

Monroe Capital Profile

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.