MidCap Financial Investment (NASDAQ:MFIC) Issues Quarterly Earnings Results

MidCap Financial Investment (NASDAQ:MFIC) released its quarterly earnings data on Thursday. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38, Zacks reports. The company had revenue of $82.58 million for the quarter, compared to the consensus estimate of $83.56 million. MidCap Financial Investment had a return on equity of 10.28% and a net margin of 30.79%.

MidCap Financial Investment Stock Down 0.7%

Shares of NASDAQ:MFIC traded down $0.09 during trading on Friday, hitting $12.03. The company’s stock had a trading volume of 605,232 shares, compared to its average volume of 438,782. The company has a market capitalization of $1.12 billion, a PE ratio of 11.35 and a beta of 1.00. MidCap Financial Investment has a fifty-two week low of $10.18 and a fifty-two week high of $14.74. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.53 and a current ratio of 3.53. The stock’s 50-day moving average price is $12.16 and its two-hundred day moving average price is $12.51.

MidCap Financial Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be paid a $0.38 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $1.52 annualized dividend and a dividend yield of 12.6%. MidCap Financial Investment’s payout ratio is 143.40%.

Institutional Trading of MidCap Financial Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in MidCap Financial Investment by 20,580.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,513 shares of the company’s stock valued at $120,000 after buying an additional 9,467 shares during the last quarter. Caxton Associates LLP bought a new stake in MidCap Financial Investment during the first quarter valued at $166,000. Jane Street Group LLC bought a new stake in MidCap Financial Investment during the second quarter valued at $191,000. Quantbot Technologies LP acquired a new stake in shares of MidCap Financial Investment during the second quarter worth $230,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of MidCap Financial Investment in the 2nd quarter worth about $241,000. Institutional investors own 28.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 target price for the company. in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $13.00 price objective on shares of MidCap Financial Investment in a research report on Monday, August 25th. Raymond James Financial set a $13.50 target price on shares of MidCap Financial Investment and gave the company an “outperform” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price target on shares of MidCap Financial Investment from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MidCap Financial Investment in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.42.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.