MidCap Financial Investment (NASDAQ:MFIC) Reaches New 12-Month Low – Here’s What Happened

MidCap Financial Investment Co. (NASDAQ:MFIC) reached a new 52-week low during trading on Thursday . The stock traded as low as $10.18 and last traded at $11.70, with a volume of 1227574 shares changing hands. The stock had previously closed at $10.47.

Analysts Set New Price Targets

MFIC has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective 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. Keefe, Bruyette & Woods cut their price objective on MidCap Financial Investment from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, MidCap Financial Investment presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

MidCap Financial Investment Stock Up 11.7 %

The firm has a fifty day simple moving average of $13.27 and a 200-day simple moving average of $13.47. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 7.50 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The business had revenue of $82.16 million during the quarter, compared to the consensus estimate of $86.28 million. As a group, sell-side analysts expect that MidCap Financial Investment Co. will post 1.73 EPS for the current year.

MidCap Financial Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 12.99%. The ex-dividend date of this dividend was Tuesday, March 11th. MidCap Financial Investment’s dividend payout ratio is 116.03%.

Institutional Investors Weigh In On MidCap Financial Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Confluence Investment Management LLC lifted its holdings in shares of MidCap Financial Investment by 1.2% during the first quarter. Confluence Investment Management LLC now owns 89,748 shares of the company’s stock worth $1,154,000 after buying an additional 1,104 shares in the last quarter. Shufro Rose & Co. LLC acquired a new stake in shares of MidCap Financial Investment during the fourth quarter worth $599,000. United Advisor Group LLC lifted its holdings in shares of MidCap Financial Investment by 1.9% during the fourth quarter. United Advisor Group LLC now owns 247,778 shares of the company’s stock worth $3,343,000 after buying an additional 4,547 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of MidCap Financial Investment during the fourth quarter worth $1,215,000. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of MidCap Financial Investment during the fourth quarter worth $156,000. Institutional investors and hedge funds own 28.45% of the company’s stock.

About MidCap Financial Investment

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.