MidCap Financial Investment (NASDAQ:MFIC) Reaches New 1-Year High at $15.40

MidCap Financial Investment Co. (NASDAQ:MFIC)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $15.40 and last traded at $15.25, with a volume of 13332 shares traded. The stock had previously closed at $15.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of MidCap Financial Investment from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price target on shares of MidCap Financial Investment from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Wells Fargo & Company raised their price objective on shares of MidCap Financial Investment from $13.00 to $14.50 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Royal Bank of Canada raised their price objective on shares of MidCap Financial Investment from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Finally, Truist Financial raised their price objective on shares of MidCap Financial Investment from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, MidCap Financial Investment currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.79.

MidCap Financial Investment Stock Up 0.4 %

The business’s 50 day moving average is $14.83 and its 200-day moving average is $14.00. The stock has a market cap of $995.72 million, a price-to-earnings ratio of 8.38 and a beta of 1.45. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.43 and a current ratio of 4.43.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. MidCap Financial Investment had a net margin of 42.95% and a return on equity of 15.50%. The firm had revenue of $71.95 million for the quarter, compared to analysts’ expectations of $68.44 million. During the same quarter last year, the company earned $0.43 EPS. On average, sell-side analysts predict that MidCap Financial Investment Co. will post 1.72 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.52 dividend on an annualized basis and a yield of 9.96%. MidCap Financial Investment’s dividend payout ratio is currently 83.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in MidCap Financial Investment by 7.7% in the 1st quarter. Van ECK Associates Corp now owns 1,288,350 shares of the company’s stock valued at $19,376,000 after purchasing an additional 92,044 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in MidCap Financial Investment by 1.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 337,880 shares of the company’s stock valued at $5,082,000 after purchasing an additional 3,215 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in MidCap Financial Investment by 1,268.1% in the 4th quarter. International Assets Investment Management LLC now owns 286,055 shares of the company’s stock valued at $3,913,000 after purchasing an additional 265,146 shares in the last quarter. Condor Capital Management lifted its holdings in MidCap Financial Investment by 7.8% in the 4th quarter. Condor Capital Management now owns 247,881 shares of the company’s stock valued at $3,391,000 after purchasing an additional 17,907 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in MidCap Financial Investment by 10.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 220,405 shares of the company’s stock valued at $3,315,000 after purchasing an additional 21,217 shares in the last quarter. Hedge funds and other institutional investors 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.