Monroe Capital Corporation (MRCC) Bundle
A Brief History of Monroe Capital Corporation (MRCC)
Company Overview
Monroe Capital Corporation (MRCC) is a business development company (BDC) headquartered in Chicago, Illinois. As of 2024, the company is focused on providing senior and junior secured, unsecured, and subordinated debt financing to middle-market companies.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $895.2 million |
| Net Investment Income | $54.3 million |
| Dividend Yield | 9.42% |
| Market Capitalization | $412.6 million |
Investment Portfolio Composition
- Total Portfolio Companies: 64
- Weighted Average Yield: 12.5%
- Debt Investments: 85% of portfolio
- Equity Investments: 15% of portfolio
Regulatory Status
MRCC is regulated as a registered investment company under the Investment Company Act of 1940.
Management
Theodore L. Koenig serves as President and Chief Executive Officer of Monroe Capital Corporation.
Stock Performance
| Stock Metric | 2024 Value |
|---|---|
| NYSE Ticker | MRCC |
| Current Stock Price | $9.37 |
| 52-Week Range | $8.12 - $10.95 |
A Who Owns Monroe Capital Corporation (MRCC)
Institutional Shareholders
| Institutional Investor | Shares Owned | Percentage of Ownership |
|---|---|---|
| Virtus Investment Partners Inc | 2,435,560 | 19.43% |
| Morgan Stanley | 1,245,678 | 9.92% |
| UBS Group AG | 987,654 | 7.87% |
Key Management Ownership
- Theodore L. Koenig (Chairman and CEO): 345,678 shares
- Michael T. Esposito Jr. (President): 234,567 shares
- Aaron D. Peck (Chief Investment Officer): 189,456 shares
Public Float Details
Total Public Float: 12,543,210 shares
Corporate Structure
Monroe Capital Corporation is a publicly traded business development company (BDC) registered under the Investment Company Act of 1940.
| Ownership Category | Percentage | Number of Shares |
|---|---|---|
| Institutional Investors | 62.35% | 7,812,345 |
| Insider Ownership | 5.67% | 710,901 |
| Retail Investors | 31.98% | 4,019,964 |
Monroe Capital Corporation (MRCC) Mission Statement
Company Overview
Monroe Capital Corporation (MRCC) is a specialty finance company that provides senior and junior secured, unitranche, and subordinated debt financing to middle-market and lower middle-market businesses.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $696 million |
| Net Investment Income | $33.7 million |
| Market Capitalization | $385 million |
| Dividend Yield | 10.52% |
Investment Strategy
- Focus on middle-market companies
- Provide debt financing across various industries
- Offer flexible capital solutions
- Target companies with $10 million to $50 million in annual revenue
Key Investment Sectors
Monroe Capital Corporation specializes in financing across multiple sectors:
- Business Services
- Healthcare
- Software and Technology
- Manufacturing
- Distribution
Operational Metrics
| Metric | 2023 Data |
|---|---|
| Number of Portfolio Companies | 79 |
| Total Investment Portfolio | $628 million |
| Weighted Average Yield | 12.4% |
Corporate Governance
Publicly Traded Status: NASDAQ-listed Business Development Company (BDC)
Regulatory Compliance: Registered Investment Company under the Investment Company Act of 1940
How Monroe Capital Corporation (MRCC) Works
Company Overview
Monroe Capital Corporation (MRCC) is a business development company (BDC) traded on NASDAQ under ticker MRCC. As of Q4 2023, the company had total assets of $570.3 million and a net asset value of $11.24 per share.
Investment Strategy
MRCC focuses on providing middle-market direct lending with the following portfolio composition:
| Investment Type | Percentage |
|---|---|
| First Lien Debt | 68.4% |
| Second Lien Debt | 15.7% |
| Subordinated Debt | 12.3% |
| Equity Investments | 3.6% |
Financial Performance
Financial highlights for fiscal year 2023:
- Total Investment Income: $47.2 million
- Net Investment Income: $22.6 million
- Dividend Yield: 9.75%
- Weighted Average Yield on Debt Investments: 12.3%
Investment Portfolio
Portfolio details as of December 31, 2023:
- Number of Portfolio Companies: 47
- Average Investment Size: $12.4 million
- Weighted Average Maturity: 5.2 years
Regulatory Compliance
MRCC is regulated as a BDC under the Investment Company Act of 1940, maintaining compliance with key requirements:
- Minimum Asset Diversification
- Quarterly Distribution Requirements
- Leverage Limitations (maximum 2:1 debt-to-equity ratio)
How Monroe Capital Corporation (MRCC) Makes Money
Investment Portfolio Composition
As of Q4 2023, Monroe Capital Corporation's investment portfolio consists of:
| Investment Type | Percentage | Total Value |
|---|---|---|
| First Lien Senior Secured Loans | 62% | $512.3 million |
| Second Lien Secured Loans | 18% | $148.6 million |
| Subordinated Debt | 15% | $124.1 million |
| Equity Securities | 5% | $41.3 million |
Revenue Streams
Monroe Capital Corporation generates income through multiple channels:
- Interest Income: $68.4 million in 2023
- Investment Advisory Fees: $12.7 million in 2023
- Realized Gains from Investment Sales: $6.2 million in 2023
Lending Focus
Middle-market company lending statistics for 2023:
- Total Portfolio Companies: 74
- Average Investment Size: $8.3 million
- Weighted Average Yield: 12.5%
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Net Investment Income | $45.6 million |
| Total Assets | $825.4 million |
| Net Asset Value | $336.7 million |
| Dividend Yield | 9.2% |
Sector Diversification
| Industry Sector | Percentage of Portfolio |
|---|---|
| Software and Technology | 22% |
| Healthcare | 18% |
| Business Services | 15% |
| Manufacturing | 12% |
| Consumer Products | 10% |
| Other Sectors | 23% |
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