Truist Financial Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $13.00

MidCap Financial Investment (NASDAQ:MFIC) had its target price reduced by Truist Financial from $15.00 to $13.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on MFIC. Zacks Research upgraded MidCap Financial Investment from a “strong sell” rating to a “hold” rating in a report on Thursday, December 11th. Keefe, Bruyette & Woods reduced their price objective on MidCap Financial Investment from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Monday, November 10th. Wall Street Zen raised MidCap Financial Investment from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. dropped their target price on MidCap Financial Investment from $12.00 to $11.50 and set a “neutral” rating on the stock in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MidCap Financial Investment in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, MidCap Financial Investment has a consensus rating of “Hold” and an average price target of $11.96.

MidCap Financial Investment Price Performance

MFIC stock opened at $10.40 on Wednesday. The stock has a market capitalization of $958.98 million, a price-to-earnings ratio of 15.76 and a beta of 0.78. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 1.53. MidCap Financial Investment has a 52-week low of $9.48 and a 52-week high of $13.51. The stock’s fifty day simple moving average is $11.17 and its 200-day simple moving average is $11.80.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Thursday, February 26th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. MidCap Financial Investment had a net margin of 19.69% and a return on equity of 10.43%. The business had revenue of ($1.38) million for the quarter, compared to analysts’ expectations of $78.87 million. Equities research analysts expect that MidCap Financial Investment will post 1.73 EPS for the current year.

MidCap Financial Investment Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Tuesday, March 10th. MidCap Financial Investment’s dividend payout ratio is 230.30%.

Institutional Trading of MidCap Financial Investment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caxton Associates LLP bought a new stake in shares of MidCap Financial Investment during the first quarter valued at approximately $166,000. Envestnet Asset Management Inc. grew its holdings in MidCap Financial Investment by 9.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 48,838 shares of the company’s stock worth $616,000 after buying an additional 4,014 shares in the last quarter. Sigma Planning Corp increased its position in MidCap Financial Investment by 3.1% in the 2nd quarter. Sigma Planning Corp now owns 73,046 shares of the company’s stock valued at $922,000 after acquiring an additional 2,183 shares during the period. Axim Planning & Wealth acquired a new stake in MidCap Financial Investment in the 2nd quarter valued at approximately $149,000. Finally, Ethos Financial Group LLC raised its stake in MidCap Financial Investment by 1.4% during the 2nd quarter. Ethos Financial Group LLC now owns 421,901 shares of the company’s stock valued at $5,324,000 after acquiring an additional 5,953 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 solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.