Connor Clark & Lunn Investment Management Ltd. Invests $1.29 Million in MidCap Financial Investment Co. (NASDAQ:MFIC)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MidCap Financial Investment Co. (NASDAQ:MFIC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 95,520 shares of the company’s stock, valued at approximately $1,289,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MFIC. Naviter Wealth LLC acquired a new position in MidCap Financial Investment in the 4th quarter valued at $2,516,000. Raymond James Financial Inc. bought a new position in shares of MidCap Financial Investment in the fourth quarter worth about $937,000. Steward Partners Investment Advisory LLC increased its stake in shares of MidCap Financial Investment by 27.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 31,881 shares of the company’s stock worth $430,000 after purchasing an additional 6,927 shares during the period. Muzinich & Co. Inc. lifted its position in shares of MidCap Financial Investment by 4.0% during the 4th quarter. Muzinich & Co. Inc. now owns 194,042 shares of the company’s stock worth $2,618,000 after purchasing an additional 7,443 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in MidCap Financial Investment in the 4th quarter valued at approximately $221,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

MidCap Financial Investment Price Performance

Shares of MFIC stock opened at $12.90 on Thursday. MidCap Financial Investment Co. has a 12 month low of $12.26 and a 12 month high of $16.37. The company has a market capitalization of $1.21 billion, a P/E ratio of 8.27 and a beta of 1.49. The stock has a 50 day moving average of $13.71 and a two-hundred day moving average of $13.63. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly 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 net margin of 37.05% and a return on equity of 11.37%. The firm had revenue of $82.16 million for the quarter, compared to the consensus estimate of $86.28 million. As a group, equities analysts expect that MidCap Financial Investment Co. will post 1.73 EPS for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 11.78%. The ex-dividend date of this dividend is Tuesday, March 11th. MidCap Financial Investment’s payout ratio is 116.03%.

Analyst Upgrades and Downgrades

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

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.