MidCap Financial Investment (NASDAQ:MFIC) Hits New 12-Month High at $15.38

MidCap Financial Investment Co. (NASDAQ:MFIC)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.38 and last traded at $15.38, with a volume of 610 shares changing hands. The stock had previously closed at $15.25.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MFIC shares. JPMorgan Chase & Co. lifted their price target on MidCap Financial Investment from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Citigroup lifted their price target on MidCap Financial Investment from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Truist Financial lifted their price target on MidCap Financial Investment from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Wells Fargo & Company boosted their target price 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. Finally, Royal Bank of Canada boosted their target price on 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.79.

MidCap Financial Investment Stock Down 1.2 %

The company has a market capitalization of $983.32 million, a PE ratio of 8.38 and a beta of 1.47. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average of $14.71 and a two-hundred day moving average of $13.93.

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 analysts’ consensus estimates 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 company had revenue of $71.95 million for the quarter, compared to analysts’ expectations of $68.44 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Equities research analysts predict that MidCap Financial Investment Co. will post 1.72 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 10.09%. The ex-dividend date of this dividend was Monday, March 11th. MidCap Financial Investment’s dividend payout ratio (DPR) is 83.52%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its stake in shares of MidCap Financial Investment by 11.4% in the third quarter. AE Wealth Management LLC now owns 49,709 shares of the company’s stock valued at $683,000 after acquiring an additional 5,083 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in MidCap Financial Investment by 12.6% in the third quarter. Commonwealth Equity Services LLC now owns 329,443 shares of the company’s stock valued at $4,530,000 after buying an additional 36,842 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in MidCap Financial Investment by 6.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,963 shares of the company’s stock valued at $192,000 after buying an additional 883 shares in the last quarter. Graypoint LLC acquired a new stake in MidCap Financial Investment in the third quarter valued at $2,090,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in MidCap Financial Investment by 37.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 183,469 shares of the company’s stock valued at $2,523,000 after buying an additional 50,427 shares in the last quarter. 28.45% of the stock is currently owned by institutional investors and hedge funds.

MidCap Financial Investment Company Profile

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.