MidCap Financial Investment (NASDAQ:MFIC) Reaches New 12-Month Low – Here’s Why

MidCap Financial Investment Corporation (NASDAQ:MFIC)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $8.72 and last traded at $8.76, with a volume of 894287 shares trading hands. The stock had previously closed at $8.88.

Analysts Set New Price Targets

MFIC has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Weiss Ratings cut MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. cut their price target on MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Truist Financial reduced their price objective on shares of MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.11.

MidCap Financial Investment Stock Down 1.4%

The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 1.58. The stock has a market cap of $719.91 million, a P/E ratio of -24.28 and a beta of 0.61. The firm has a 50-day simple moving average of $9.45 and a two-hundred day simple moving average of $10.28.

MidCap Financial Investment (NASDAQ:MFIC) last announced its earnings results on Wednesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. The company had revenue of ($9.12) million during the quarter, compared to analysts’ expectations of $67.80 million. Equities research analysts expect that MidCap Financial Investment Corporation will post 1.49 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 8th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date was Tuesday, September 8th. MidCap Financial Investment’s dividend payout ratio is presently -344.44%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. LB Partners LLC bought a new stake in shares of MidCap Financial Investment in the first quarter valued at approximately $112,000. Kingsview Wealth Management LLC bought a new position in MidCap Financial Investment during the 4th quarter worth $115,000. Fifth Third Bancorp acquired a new position in MidCap Financial Investment in the 1st quarter valued at $119,000. World Investment Advisors acquired a new position in MidCap Financial Investment in the 4th quarter valued at $150,000. Finally, Empowered Funds LLC bought a new stake in shares of MidCap Financial Investment during the 1st quarter valued at $158,000. 28.45% of the stock is owned by institutional investors.

About MidCap Financial Investment

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a non-diversified business development company that provides financing to privately held, middle-market companies. The company primarily invests in senior secured loans, including first-lien and unitranche facilities, and may also invest in subordinated debt and equity securities.

MFIC seeks to support companies across a range of industries and typically focuses on businesses with established operations and experienced management teams.