MidCap Financial Investment Co. (NASDAQ:MFIC) Sees Significant Increase in Short Interest

MidCap Financial Investment Co. (NASDAQ:MFIC) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 911,200 shares, an increase of 40.8% from the May 15th total of 647,000 shares. Based on an average daily volume of 514,100 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.0% of the shares of the company are short sold.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on MidCap Financial Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Thursday, April 24th. Truist Financial cut their target price on shares of MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of MidCap Financial Investment from $15.00 to $14.50 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MFIC. Wealth Preservation Advisors LLC acquired a new position in shares of MidCap Financial Investment during the 1st quarter worth $26,000. Ransom Advisory Ltd acquired a new position in MidCap Financial Investment during the first quarter worth about $28,000. Allworth Financial LP increased its holdings in MidCap Financial Investment by 197.8% in the fourth quarter. Allworth Financial LP now owns 2,558 shares of the company’s stock valued at $35,000 after buying an additional 1,699 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in MidCap Financial Investment by 247.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,728 shares of the company’s stock valued at $91,000 after acquiring an additional 4,793 shares in the last quarter. Finally, Anfield Capital Management LLC raised its position in MidCap Financial Investment by 42.1% during the first quarter. Anfield Capital Management LLC now owns 8,352 shares of the company’s stock worth $107,000 after acquiring an additional 2,473 shares during the last quarter. Hedge funds and other institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Stock Performance

Shares of NASDAQ:MFIC traded down $0.02 during trading on Monday, reaching $12.19. The company had a trading volume of 478,621 shares, compared to its average volume of 440,071. MidCap Financial Investment has a fifty-two week low of $10.18 and a fifty-two week high of $15.70. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51. The stock’s fifty day moving average price is $12.25 and its 200 day moving average price is $13.07. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 7.81 and a beta of 0.99.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Monday, May 12th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The firm had revenue of $78.70 million during the quarter, compared to analyst estimates of $82.49 million. As a group, equities research analysts predict that MidCap Financial Investment will post 1.73 EPS for the current year.

MidCap Financial Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 12.47%. The ex-dividend date of this dividend is Tuesday, June 10th. MidCap Financial Investment’s dividend payout ratio is presently 122.58%.

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.