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

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

Analysts Set New Price Targets

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

MidCap Financial Investment Price Performance

The company has a debt-to-equity ratio of 1.45, a current ratio of 4.43 and a quick ratio of 4.43. The company has a 50 day moving average price of $14.83 and a 200 day moving average price of $14.00. The firm has a market cap of $995.72 million, a PE ratio of 8.38 and a beta of 1.45.

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

MidCap Financial Investment Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MFIC. Commonwealth Equity Services LLC grew its holdings in MidCap Financial Investment by 12.6% during the third quarter. Commonwealth Equity Services LLC now owns 329,443 shares of the company’s stock worth $4,530,000 after acquiring an additional 36,842 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in MidCap Financial Investment by 6.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,963 shares of the company’s stock worth $192,000 after acquiring an additional 883 shares during the period. Graypoint LLC acquired a new position in MidCap Financial Investment during the third quarter worth $2,090,000. Hennion & Walsh Asset Management Inc. grew its holdings in MidCap Financial Investment by 37.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 183,469 shares of the company’s stock worth $2,523,000 after acquiring an additional 50,427 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in MidCap Financial Investment by 4.7% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 44,936 shares of the company’s stock valued at $618,000 after purchasing an additional 2,027 shares during the last quarter. 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.