Sumitomo Mitsui Trust Group Inc. Boosts Stake in MidCap Financial Investment Corporation $MFIC

Sumitomo Mitsui Trust Group Inc. raised its position in MidCap Financial Investment Corporation (NASDAQ:MFIC) by 50.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,351 shares of the company’s stock after purchasing an additional 168,357 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.54% of MidCap Financial Investment worth $6,035,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MFIC. Ameritas Advisory Services LLC purchased a new position in shares of MidCap Financial Investment in the 2nd quarter valued at $32,000. Signaturefd LLC boosted its position in shares of MidCap Financial Investment by 88.5% in the second quarter. Signaturefd LLC now owns 3,387 shares of the company’s stock worth $43,000 after buying an additional 1,590 shares during the period. Financial Consulate Inc. purchased a new stake in shares of MidCap Financial Investment in the third quarter worth about $46,000. State of Alaska Department of Revenue acquired a new stake in shares of MidCap Financial Investment in the third quarter valued at about $46,000. Finally, Access Investment Management LLC purchased a new stake in shares of MidCap Financial Investment during the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 28.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MFIC. Compass Point reiterated a “neutral” rating and set a $12.25 price objective (down previously from $14.75) on shares of MidCap Financial Investment in a research note on Monday, November 10th. Raymond James Financial set a $13.50 target price on MidCap Financial Investment and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods reduced their price target on MidCap Financial Investment from $14.00 to $13.00 and set a “market perform” rating for the company in a report on Monday, November 10th. Wall Street Zen raised shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MidCap Financial Investment in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.75.

MidCap Financial Investment Stock Down 1.4%

MFIC stock opened at $11.57 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 4.34 and a quick ratio of 4.34. The firm has a market capitalization of $1.08 billion, a P/E ratio of 10.92 and a beta of 0.74. MidCap Financial Investment Corporation has a 52-week low of $10.18 and a 52-week high of $14.74. The company’s 50 day simple moving average is $11.73 and its 200-day simple moving average is $12.24.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. MidCap Financial Investment had a net margin of 30.79% and a return on equity of 10.33%. The business had revenue of $82.58 million during the quarter, compared to analysts’ expectations of $83.56 million. As a group, equities research analysts anticipate that MidCap Financial Investment Corporation will post 1.73 EPS for the current year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were paid a $0.38 dividend. The ex-dividend date was Tuesday, December 9th. This represents a $1.52 dividend on an annualized basis and a yield of 13.1%. MidCap Financial Investment’s payout ratio is 143.40%.

MidCap Financial Investment Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.