Garden State Investment Advisory Services LLC Takes Position in Monroe Capital Co. (NASDAQ:MRCC)

Garden State Investment Advisory Services LLC bought a new stake in shares of Monroe Capital Co. (NASDAQ:MRCC) during the third quarter, Holdings Channel reports. The fund bought 26,006 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rothschild Investment LLC acquired a new position in shares of Monroe Capital during the second quarter valued at approximately $76,000. Private Advisor Group LLC acquired a new stake in shares of Monroe Capital in the third quarter worth approximately $104,000. Ritholtz Wealth Management increased its position in shares of Monroe Capital by 162.7% during the second quarter. Ritholtz Wealth Management now owns 40,394 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 25,016 shares in the last quarter. HB Wealth Management LLC raised its stake in Monroe Capital by 6.7% in the 2nd quarter. HB Wealth Management LLC now owns 53,323 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 3,356 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Monroe Capital by 2.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 138,069 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 3,749 shares in the last quarter.

Monroe Capital Stock Performance

NASDAQ MRCC opened at $8.55 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 4.37 and a quick ratio of 4.37. The stock’s fifty day moving average is $8.25 and its two-hundred day moving average is $7.88. Monroe Capital Co. has a fifty-two week low of $6.77 and a fifty-two week high of $8.74.

Monroe Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.70%. The ex-dividend date of this dividend is Monday, December 16th. Monroe Capital’s dividend payout ratio is currently 166.67%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MRCC shares. B. Riley lowered shares of Monroe Capital from a “neutral” rating to a “sell” rating and set a $7.25 target price for the company. in a report on Wednesday. StockNews.com lowered shares of Monroe Capital from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.