MidCap Financial Investment (NASDAQ:MFIC) Reaches New 1-Year Low – Here’s Why

MidCap Financial Investment Corporation (NASDAQ:MFIC) shares reached a new 52-week low on Monday. The stock traded as low as $8.60 and last traded at $8.6340, with a volume of 231 shares trading hands. The stock had previously closed at $8.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MFIC shares. JPMorgan Chase & Co. lowered their price objective on shares of MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Truist Financial reduced their price target on shares of MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings lowered shares of MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada decreased their price target on shares of MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company dropped their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.71.

MidCap Financial Investment Trading Down 0.1%

The firm has a market capitalization of $700.17 million, a P/E ratio of -23.61 and a beta of 0.62. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 1.58. The business has a 50-day moving average price of $9.37 and a 200-day moving average price of $10.23.

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

MidCap Financial Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th were paid a $0.31 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 14.6%. MidCap Financial Investment’s dividend payout ratio is currently -344.44%.

Institutional Trading of MidCap Financial Investment

Several institutional investors have recently made changes to their positions in MFIC. Confluence Investment Management LLC raised its stake in shares of MidCap Financial Investment by 1.2% in the second quarter. Confluence Investment Management LLC now owns 118,551 shares of the company’s stock worth $1,195,000 after acquiring an additional 1,369 shares during the last quarter. Meridian Investment Counsel Inc. grew its stake in shares of MidCap Financial Investment by 3.7% during the first quarter. Meridian Investment Counsel Inc. now owns 39,113 shares of the company’s stock valued at $440,000 after purchasing an additional 1,400 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of MidCap Financial Investment by 2.4% in the first quarter. Sigma Planning Corp now owns 73,561 shares of the company’s stock valued at $827,000 after purchasing an additional 1,719 shares in the last quarter. Arete Wealth Advisors LLC increased its holdings in shares of MidCap Financial Investment by 10.4% in the first quarter. Arete Wealth Advisors LLC now owns 19,133 shares of the company’s stock valued at $215,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of MidCap Financial Investment by 3.7% in the first quarter. Lido Advisors LLC now owns 67,218 shares of the company’s stock valued at $756,000 after purchasing an additional 2,397 shares in the last quarter. 28.45% of the stock is currently owned by institutional investors and hedge funds.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt securities and, selectively, equity investments.

Its investments generally include senior secured, first-lien and unitranche loans, as well as second-lien loans, subordinated debt and equity interests. MidCap Financial Investment typically works with companies across a range of industries and emphasizes businesses with established operations, recurring cash flow and experienced management teams.

The company invests primarily in the United States and operates as a regulated business development company under the Investment Company Act of 1940.