In a report released today, Chris Kotowski from Oppenheimer maintained a Buy rating on Monroe Capital (MRCC), with a price target of $14. The company’s shares opened today at $12.10.
Kotowski wrote:
“MRCC reported 1Q19 net investment income (NII) of $0.35/share, covering the $0.35 dividend. This was below our $0.43 estimate because we had not expected the advisor to be eligible for an incentive fee until next quarter. Otherwise, the key line items were relatively close to expectations. Currently trading at 0.97x of NAV versus the industry average of 0.91x, we think the company deserves better in light of a generally strong longer-term track record. With strong 7.8% Q/Q growth in investments we expect MRCC to cover its dividend with full incentive fees from operating NII.”
According to TipRanks.com, Kotowski is a top 100 analyst with an average return of 12.5% and a 70.1% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Fidus Investment Corporation, and BlackRock TCP Capital Corp.
Currently, the analyst consensus on Monroe Capital is a Moderate Buy with an average price target of $13.75.
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The company has a one-year high of $14.65 and a one-year low of $9.10. Currently, Monroe Capital has an average volume of 119.8K.
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Monroe Capital Corp. is an externally managed, closed-end, non-diversified management investment company, which engages in the provision of financial solutions. It offers customized financing solutions focused primarily on senior, unitranche and junior secured debt and, to a lesser extent, unsecured subordinated debt and equity, including equity co-investments in preferred and common stock and warrants. The company was founded on February 9, 2011 and is headquartered in Chicago, IL.
