MidCap Financial Investment (NASDAQ:MFIC) Sees Large Volume Increase – Time to Buy?

Shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) saw strong trading volume on Wednesday. 940,559 shares were traded during trading, an increase of 20% from the average daily volume of 783,664 shares. The stock last traded at $10.2550 and had previously closed at $10.26.

Wall Street Analysts Forecast Growth

MFIC has been the subject of a number of recent research reports. 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 note on Friday, August 7th. Royal Bank Of Canada decreased their price target on MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings cut MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company decreased their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. cut their price objective on MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.54.

MidCap Financial Investment Price Performance

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’s 50 day simple moving average is $9.04 and its 200-day simple moving average is $10.27. The stock has a market capitalization of $856.65 million, a price-to-earnings ratio of 6.61 and a beta of 0.62.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.40 earnings per share for the quarter, beating 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 company had revenue of ($9.12) million for the quarter, compared to the consensus estimate of $67.80 million. On average, research analysts forecast that MidCap Financial Investment Corporation will post 1.49 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.24 annualized dividend and a dividend yield of 11.9%. MidCap Financial Investment’s dividend payout ratio (DPR) is -344.44%.

Institutional Trading of MidCap Financial Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Next Capital Management LLC raised its stake in shares of MidCap Financial Investment by 26.1% in the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock valued at $21,037,000 after buying an additional 387,303 shares during the period. Wellington Management Group LLP bought a new stake in shares of MidCap Financial Investment during the 2nd quarter valued at about $10,869,000. D.A. Davidson & CO. increased its stake in MidCap Financial Investment by 3.1% in the first quarter. D.A. Davidson & CO. now owns 360,807 shares of the company’s stock valued at $4,055,000 after acquiring an additional 10,736 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its position in MidCap Financial Investment by 22.1% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 145,576 shares of the company’s stock worth $1,636,000 after buying an additional 26,362 shares during the last quarter. Finally, Sharpepoint LLC boosted its stake in shares of MidCap Financial Investment by 19.9% in the 1st quarter. Sharpepoint LLC now owns 124,177 shares of the company’s stock valued at $1,396,000 after purchasing an additional 20,608 shares in the last quarter. 28.45% of the stock is owned by institutional investors.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed 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 in privately negotiated debt and equity securities.

MFIC primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and other investments issued by companies across a range of industries.