MidCap Financial Investment (NASDAQ:MFIC) Hits New 1-Year Low – Here’s What Happened

MidCap Financial Investment Corporation (NASDAQ:MFIC) shares hit a new 52-week low during trading on Wednesday. The stock traded as low as $8.31 and last traded at $8.38, with a volume of 55,272 shares. The stock had previously closed at $8.42.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MFIC shares. Weiss Ratings downgraded MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wells Fargo & Company cut their price target on MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. JPMorgan Chase & Co. dropped their price target on shares of MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Royal Bank Of Canada decreased their target price on shares of MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 12th. Finally, Truist Financial lowered their target price on MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.71.

MidCap Financial Investment Stock Performance

The firm’s fifty day moving average price is $9.20 and its 200 day moving average price is $10.10. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $700.17 million, a PE ratio of -23.61 and a beta of 0.62.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. The company had revenue of ($9.12) million for the quarter, compared to analyst estimates of $67.80 million. On average, research analysts anticipate that MidCap Financial Investment Corporation will post 1.49 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 14.6%. MidCap Financial Investment’s dividend payout ratio is currently -344.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. LB Partners LLC acquired a new position in MidCap Financial Investment during the 1st quarter worth $112,000. Fifth Third Bancorp acquired a new stake in shares of MidCap Financial Investment in the first quarter valued at about $119,000. World Investment Advisors acquired a new stake in shares of MidCap Financial Investment in the fourth quarter valued at about $150,000. Empowered Funds LLC acquired a new stake in shares of MidCap Financial Investment in the first quarter valued at about $158,000. Finally, Entropy Technologies LP bought a new position in shares of MidCap Financial Investment in the first quarter worth about $160,000. 28.45% of the stock is owned by institutional investors.

About MidCap Financial Investment

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt securities and, selectively, equity investments.

Its investments generally include senior secured, first-lien and unitranche loans, as well as second-lien loans, subordinated debt and equity interests. MidCap Financial Investment typically works with companies across a range of industries and emphasizes businesses with established operations, recurring cash flow and experienced management teams.

The company invests primarily in the United States and operates as a regulated business development company under the Investment Company Act of 1940.