Congress Wealth Management LLC DE Trims Stake in MidCap Financial Investment Co. (NASDAQ:MFIC)

Congress Wealth Management LLC DE lessened its holdings in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 63.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 28,594 shares of the company’s stock after selling 50,315 shares during the quarter. Congress Wealth Management LLC DE’s holdings in MidCap Financial Investment were worth $386,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in MidCap Financial Investment by 273.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,640 shares of the company’s stock worth $1,897,000 after buying an additional 103,741 shares during the period. Kovitz Investment Group Partners LLC bought a new position in MidCap Financial Investment in the 3rd quarter worth about $692,000. Barclays PLC increased its position in shares of MidCap Financial Investment by 190,106.2% during the third quarter. Barclays PLC now owns 123,634 shares of the company’s stock worth $1,656,000 after acquiring an additional 123,569 shares during the period. Franklin Resources Inc. raised its stake in shares of MidCap Financial Investment by 32.4% during the third quarter. Franklin Resources Inc. now owns 384,054 shares of the company’s stock valued at $5,116,000 after acquiring an additional 93,972 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of MidCap Financial Investment by 74.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 81,756 shares of the company’s stock valued at $1,103,000 after purchasing an additional 34,875 shares during the period. Institutional investors own 28.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.60.

MidCap Financial Investment Price Performance

Shares of MFIC opened at $13.04 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. The company has a 50 day moving average price of $13.68 and a 200-day moving average price of $13.59. MidCap Financial Investment Co. has a fifty-two week low of $12.26 and a fifty-two week high of $16.37. The stock has a market capitalization of $1.22 billion, a PE ratio of 8.36 and a beta of 1.49.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The company had revenue of $82.16 million during the quarter, compared to analyst estimates of $86.28 million. Equities analysts predict that MidCap Financial Investment Co. will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 11th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date of this dividend was Tuesday, March 11th. MidCap Financial Investment’s payout ratio is currently 116.03%.

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.