Garner Asset Management Corp Sells 20,232 Shares of MidCap Financial Investment Corporation $MFIC

Garner Asset Management Corp lessened its position in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 15.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 111,631 shares of the company’s stock after selling 20,232 shares during the quarter. Garner Asset Management Corp’s holdings in MidCap Financial Investment were worth $1,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of MidCap Financial Investment in the 2nd quarter valued at $189,382,000. Invesco Ltd. lifted its holdings in MidCap Financial Investment by 16.8% in the first quarter. Invesco Ltd. now owns 878,563 shares of the company’s stock valued at $11,298,000 after buying an additional 126,156 shares during the period. Franklin Resources Inc. lifted its holdings in MidCap Financial Investment by 18.3% in the second quarter. Franklin Resources Inc. now owns 772,538 shares of the company’s stock valued at $9,749,000 after buying an additional 119,343 shares during the period. Next Capital Management LLC boosted its position in MidCap Financial Investment by 329.0% during the second quarter. Next Capital Management LLC now owns 725,401 shares of the company’s stock valued at $9,155,000 after acquiring an additional 556,316 shares during the last quarter. Finally, Cura Wealth Advisors LLC grew its holdings in MidCap Financial Investment by 354.2% during the 1st quarter. Cura Wealth Advisors LLC now owns 648,600 shares of the company’s stock worth $8,341,000 after acquiring an additional 505,807 shares during the period. Institutional investors and hedge funds own 28.45% of the company’s stock.

MidCap Financial Investment Stock Up 0.8%

Shares of NASDAQ:MFIC opened at $12.11 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 4.34 and a current ratio of 4.34. MidCap Financial Investment Corporation has a 52-week low of $10.18 and a 52-week high of $14.74. The business’s 50 day simple moving average is $11.94 and its two-hundred day simple moving average is $12.49. The firm has a market cap of $1.13 billion, a P/E ratio of 11.42 and a beta of 1.00.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Thursday, November 6th. The company reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. MidCap Financial Investment had a return on equity of 10.33% and a net margin of 30.79%.The company had revenue of $82.58 million for the quarter, compared to analyst estimates of $83.56 million. As a group, research analysts forecast that MidCap Financial Investment Corporation will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Compass Point reissued a “neutral” rating and issued a $12.25 price objective (down from $14.75) on shares of MidCap Financial Investment in a research note on Monday, November 10th. JPMorgan Chase & Co. lowered their target price on MidCap Financial Investment from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Monday, November 10th. Raymond James Financial set a $13.50 price target on MidCap Financial Investment and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Zacks Research downgraded shares of MidCap Financial Investment from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of MidCap Financial Investment from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MidCap Financial Investment presently has a consensus rating of “Hold” and a consensus target price of $13.04.

MidCap Financial Investment 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.